Xero employee sells 30,000 shares

Company News

by Kathy Skantzos

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.

Kathy Skantzos

Finance News Network
Kathy presents the Market Outlook and ASX company news. She joined FNN in September 2017. She has been in print and online journalism for over 9 years. She also worked in corporate communications.