Yes, he bought 2 million shares at 40c and sold 1.2 million shares at 50c, for a profit of 10c per share on the 1.2 million shares he sold. That's $120,000. The cost of exercising 800,000 shares at 40c is $320,000. You are deducting the $120,000 profit from the $320,000 cost which I think is unfair because it relates to the 1.2 million shares sold at 50c, which is a separate transaction.
You can argue this several ways depending on his personal finances, which we actually don't know.
He could have bought 2 million shares at 40c and sold 2 million shares at 50c, for a profit of $200,000 and still his shareholding in AMX would have been unchanged. He didn't. He chose to increase his position.
He chose to "only" sell 1.2 million shares. This more positive than the first scenario, but less positive than if he had exercised all of his options and not sold any shares at all at 50c. But maybe he couldn't afford to do this, maybe he didn't want to take on additional risk, or maybe he thinks AMX shares are worth about 50c. We don't know. But we do know that he thinks they are worth at least 40c.
AMX Price at posting:
38.5¢ Sentiment: Buy Disclosure: Held
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