Ann: Change of Director's Interest Notice (J Deacon), page-4

I’ve been thinking why Directors have converted end of 23 expiry options early and wonder if it reflects a very positive outlook by those Directors.

With a zero exercise price I assume by exercising they have triggered a taxable event calculated as income based on number of shares x current share price at exercise. Probably also explains why you’d convert in July to delay tax into FY23 year (the new tax year). If they are positive on the share price better to convert early to minimise their personal tax bill which could have been delayed until FY24.

just a thought and possible explanation.

pitt
DYOR, Imho, dyor etc.