It was a performance based shares.
By achieving a specific performance, he was granted these shares for Nil consideration.
From the ATO perspective, he has received additional income of 1M shares @ circa $7.30 - meaning he has to pay tax on an additional $7.3M in income.
He sold 500,000 shares to cover his tax bill.
That is how I understand it.
Ann: Change of Director's Interest Notice - A Dorsch, page-9
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