I received this today
Thank you for your interest in The a2 Milk Company.
Although we cannot comment specifically on Jayne’s personal financial situation, we would take this opportunity to provide you with the following information with respect to Jayne’s remuneration package and recent share sale:
Jayne’s remuneration package included one-off transitional entitlements compensating her for entitlements from her previous employer that were forfeited when she agreed to join The a2 Milk Company. These one-off transitional entitlements included a mix of cash and equity interests in The a2 Milk Company.
The transition entitlements (in The a2 Milk Company) were structured to replace the entitlements (in her previous employer) that Jayne forfeited when she agreed to join The a2 Milk Company. The equity entitlements in The a2 Milk Company that have vested replaced the equity entitlements in her former employer that would have vested at the same time had Jayne not left that business to join The a2 Milk Company
Jayne sold the shares that she received on vesting to fund tax obligations relating to the automatic exercise of her equity entitlements in The a2 Milk Company and other commitments that she entered into before agreeing to join the company. We can confirm that Jayne entered into the relevant commitments well in advance of her agreeing to join The a2 Milk Company and in the knowledge that she had a future entitlement to receive the benefit of equity interests from her previous employer (that she subsequently forfeited when she joined The a2 Milk Company)
Jayne’s ongoing remuneration package (specifically her LTI component) has been structured to ensure Jayne will continue to hold a significant equity interest in the Company moving forward
We wish to confirm that the Company has heard the concerns raised by shareholders and that these concerns have been shared directly with Jayne and the rest of the Board.
We are grateful for shareholders’ support of and interest in the Company.
Kind Regards
The a2 Milk Company Team
A2M Price at posting:
$10.81 Sentiment: None Disclosure: Held
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