Nicely disguised , and dropped into the market on a Friday afternoon when nobody much is paying attention.
But the translation of all this appears to be:
Mr Joyce received received 3,506,062 shares for no consideration.
He sold those shares when they vested to him recently.
If he sold them at $5.80, say, close to the current price, he just realised and crystallised a profit of over $20 Million dollars! This is in addition to his already generous annual salary.
I'm not outraged, because I'm not a shareholder. Just saddened that such a 'wool pulling' exercise can be carried out in broad daylight, and apparently nobody notices.
It's not just Mr Joyce doing this by the way. There are literally hundreds of Qantas managers on the Incentive Plan all in the trough as well.
Ann: Change of Director's Interest Notice, page-2
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