A2 milk CEO sells all their shares

Jayne Hrdlicka sold 178,616 shares in a2 Milk last Tuesday, and an equal number of shares, for a total of around A$4 million ($4.3 million), according to a notice issued late on Friday to the Australian and New Zealand stock exchanges. The shares were received by Hrdlicka, who is on a salary of A$1.5m, on the automatic exercise of rights in the company.The company said in its notice the share sales were to meet Hrdlica’s tax obligations and to “fund commitments made by Ms Hrdlicka prior to her taking up employment with the company”.“Ms Hrdlicka retains a relative interest in time-based rights and performance rights,” the notice said.A spokesman for a2 Milk said the 245,787 in performance rights, and 242,022 time-based rights, would take Hrdlica’s holding back over her original stake upon their execution.