It appears that executives over at Voyager Digital (TSX: VOYG) are looking to hit the cash out button, at least partially. The firm this morning announced that two members of its executive team have entered into automatic securities disposition plans.
The two executives that have entered such share sale plans include the firms CEO, Stephen Ehrich, and the firms COO, Gerard Hanshe. The arrangements will enable the sale of securities to be sold under pre-arranged instructions including minimum trade prices.
In the case of Ehrich, the firms CEO, he’ll be looking to sell up to 1.0 million common shares from his holdings at a predetermined floor price, details of which were not disclosed. The sale constitutes a little over 25% of his common shares currently held in the company, with his holdings consisting of 3.94 million shares. He also holds 2.9 million options in the company, which weren’t included in the plan.
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The firms COO meanwhile is looking to offload up to 142,000 common shares of the company, which amounts to roughly 88% of his current holdings of 162,000 shares. He’ll also look to exercise 120,000 of his 385,000 options, which he then intends to turn around and sell, with no sales beyond what is required for tax and fee purposes beyond a defined floor.
Voyager Digital last traded at $16.90 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
