Five Vodacom executives and the company secretary have sold a combined 63 216 shares, worth about R9.93 million, to settle tax obligations arising from the vesting of shares awarded under the company’s conditional and forfeitable share plan.
The transactions, disclosed in accordance with the JSE Listings Requirements, took place on 11 August through on-market sales.
Vodacom South Africa CEO Sitho Mdlalose sold the largest number of shares, disposing of 22 993 shares at a volume-weighted average price of R157.0456 per share for a total of R3.61 million.
Financial director Refilwe Nkabinde sold 10 208 shares worth R1.60 million, while chief technology officer Beverly Ngwenya sold 11 076 shares for R1.74 million.
Vodacom Business director Videsha Proothveerajh sold 16 562 shares, with a total value of R2.60 million.
Company secretary Neo Imasiku sold 2 377 shares worth R373 297.
All five transactions were classified as direct beneficial interests and on-market sales. Vodacom says clearance to deal has been obtained for each transaction.
The shares were sold after shares issued to the executives and company secretary under Vodacom Group’s conditional and forfeitable share plan vested. The proceeds from the sales were used to settle the tax arising from the vesting.
The transactions were executed at the same volume-weighted average price of R157.0456 a share.
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