Top marginal tax rate in USA is 37%, given CEO salary & stock awards he would be on this tier, so to cover tax on RSU's, his tax implication at conversion should be 37%, so as he has been handed another 2000000 shares for ZERO sales at a calculated rate of $0.26 per share, it would look like this;
2000000 x AUD$0.26=AUD$520000 x 37% = AUD$192400
So, if CEO is actually only selling shares to cover tax implication he should only be selling AUD$192400 / 0.26 = 740000 shares.
There you go, hope that all makes sense. Not bad, being rewarded $520k for achieving zero sales! Wonder how many of us would be rewarded for no success, and awarded so much???
GLTA, IMO, DYOR, TICK TOCK Sean, time to go, NEXT!
Expand
(20min delay)