Well hot off the press and also courtesy of one of HC member for posting details...
https://www.iod.org.nz/Branches-and-...ProductId/5752
Looks like David Hearn was in Auckland today for breakfast event as per above and one of the question has was asked by a reporter relating to recent news of CEO selling down shares...
And in words of HC member this is what he said as per below...
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David Hearn (Chairman) gave a speech in Auckland this morning. During the Q&A session the issue of Jayne selling all her shares was the first question brought up in the audience. His answer was the shares Jayne sold was compensation for her existing scheme in she had in Qantas, A2M had to match it her old compensation scheme when she moved over. They just happen to vest the same time as her old JetStar/Qantas shares. The Australian rule is that tax becomes payable when the shares becomes exercisable, and not when they are exercised. She she was forced to sell 48% of her shares to fund her tax obligations. And the rest of it she sold was genuinely related to pre-employment commitment she made.
In hindsight David Hearn said they should've compensated her exisitng JetStar/Qantas shares in cash when she joined. But they can understand how it looks really bad right now.
Honestly, I really don't think there's anything sinister with Jayne's action and it rather was just poor timing (the fact that she also took two months off prior to starting at A2M further makes the optics look bad)."
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I think its time to move on.....