Yes these ZEPOs were bound to occur this year following the $33m sale. Not guaranteed but you'd understand the desire to close out that deal from Oleg and Peter's perspective and give the 2x $11m sales to me it felt all but guranteed.
There was a lot of hand wringing on the LAST ZEPOs that were issued. I'm not going to rehash an old argument. People are going to feel whatever they want especially if they're uninformed.
I will note that I am surprised anyone is surprised these ZEPOs were exercised as this suggests a combination of abysmal research (when you noted the ~6% of Options did you just ignore it?) and being very new to the stock. Perhaps some sad sacks who bought in during the CR or any of the other Hype train moments this year?
We, the shareholders, approved these ZEPOs at the 2022 AGM - only just tho with 51% voting for Oleg (Peter and Jethro had slightly better votes for). 10m for Oleg, 1m for Jethro and 5m for Peter.
Do they deserve it? Well we were around 20-22c when we approved them these options if they hit $50m in revenue within a 12 month period and it had an expiration date of 60 months. We're only 10-20% higher now (all depends which dates you want to pick) which is very average for the pay-day that Oleg and co have just had.
However, they dont really have much control over what the share price does. What they do have is control over sales and they've hit what they said they would. I recall at the time feeling like $50m in revenue was a long way away but here we are. Just because the SP doesnt reflect what I feel fair value is doesnt mean im going to feel aggrieved that they're paying themselves in shares. Noting they DID sell a significant number earlier this year what I will be disappointed in is any additional selling outside the required tax (they have to pay tax on the capital gain even if they dont sell the shares so please be mindful that an announcement WILL come out saying they've done exactly that).
Bottom line is if you hated the ZEPOs there were NUMEROUS chances for you to exit the stock since they were granted where you would have been doing very well (for a very short period even 100% up). Any tears and complaints now are unfounded.
At least
@redblue was funny when he complained!
(20min delay)