Hi all, Its always an encouraging sign when directors exercise...

Hi all,

Its always an encouraging sign when directors exercise large chunks of their stock, especially when they are only a bit in the money. We pay them enough to do so and generally expect them to play the game.

But its especially encouraging when the senior management rob banks/sell their kids to exercise long before the option ex date looms.

If we take the last 3 notices and cross-check with the annual report we have:

CFO Beukes doing
27 March 1.0m @ 0.075 = $75k (ex by Dec '16)
17 April 1.5m @ 0.53 = $795k (ex by Oct '17) NOTE: at the money!!!!
17 April 1.5m @ 0.415 = $622.5k (ex by June '17)

for a total outlay of a whopping $1.4925m!

His colleague, Paul Lapstun (CTO) seems to have raided the piggy bank for some $375k to prematurely ex some 2.5m options not due until March '17.

The CFO didn't have to ex the 53c oppies. If I was him, I wouldn't have. But something is definitely happening to encourage these guys to dig very, very deep.

Now just waiting for Peterson to ex his 2.5m @ $0.075 which will mean the executive management team have exercised ALL their vestible options way ahead of time.

Unprecedented.

Cheers