$Droneshield Ltd (DRO.AU)$ he bought a house last year, same...
he bought a house last year, same thing happened before, dont sweat it kiddos
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152336865 : what are the tax implications for Oleg? ATO takes 45+% of $49mil ?! Damn, Albo and Chalmers should send him a thank you note.
Vk85 152336865 : will always pay tax regardless whenever the shares are being sold
Roaring M00M00 : 30% for people hiding behind their trust
151825295 152336865 : some might not care as get a fuckton anyway. then again rich can have creative accounting so probably don't pay anything lol
152336865 : From my reading of ATO rules, Oleg had to sell. His options strike was $0. So the stock price on vest was the discount he received, and that is counted as his income. That is a huge tax bill! The award was made to him, not a trust. The other director, James (iirc), has DRO shares held in trust and in his name. His award was made to his name and he also disposed of all his shares.
Still Oleg had alternatives:
1. He could have sold 45% to cover the tax bill and held on to the rest
2. He could have deferred the tax by setting up a disposal schedule (this is what is done by big corp to avoid this exact effect on the share price)
Instead he chose to sell the lot, cop the huge tax bill and pocket the balance. Maybe if he is still interested in the company he would buy back shares at a lower price and regain a seat on the board.
In any case, the corporate structure of DRO doesn't look like it was properly done for an ASX 200 member and the compensation committee needs to review the compensation awards.