Creasy reduces holding by 4.8%

I noticed creasy had recently sold 4.8% of his Sirius shares, but is exercising his 2 million options @ 60c. According to proactive investor http://www.*.com.au/companies/news/...nvestments-to-exercise-060-options-32036.html his stake in sirius  is now at 25.73%. What's everyone's thoughts on the subject? How come the number of shares he owns didn't drop in the asx notice yet his percentage ownership did not decrease?