Global online platform Xero (ASX:XRO) announces that its Chief Operating and Financial Officer Sankar Narayan has sold 30,000 Xero shares at current market prices.
The sale is to meet personal tax liabilities in relation to Xero shares granted to the employee as part of his remuneration package.
Following the sale, the employee retains an interest in 42,874 shares, 46,902 restricted stock units and 291,000 options.
In another recent announcement, Xero announced it will be delisting from the New Zealand Stock Exchange (NZX) and will be only listed on the ASX.
Xero’s final day of trading on the New Zealand Stock Exchange will be on Wednesday 31 January 2018 and ordinary shares will cease to be quoted from close of business on Friday 2 February 2018.
Shares in Xero (ASX:XRO) closed 0.5 per cent higher on Friday at $29.91.