Honestly don’t understand all the reaction to this. It’s a...

Honestly don’t understand all the reaction to this. It’s a pretty common occurrence when receiving shares as performance rights. As soon as they vest, the value of the shares is treated as salary/income, and you need to pay your 47c/$ when tax time comes around (depending on personal circumstances of course). If he got $1m of shares, he needs to pay $470k of tax - the tax is not withheld by the company. Chances are he got more than $1m, funded some of the tax obligation from personal funds and needed to find another $500k. I imagine it would have gutted him to have to sell at 40c… but less so than trying to get a $500k line of credit at 8-9%.