a2 Milk executives sell shares to cover tax obligations

The a2 Milk Company (a2MC) announced that members of its executive leadership team (ELT) sold up to 50% of shares received from the vesting of FY22 long-term incentive (LTI) performance rights on August 30, 2024. These sales were primarily conducted on-market to meet tax obligations associated with the vested rights, a practice the board considers reasonable for covering tax obligations in the ordinary course.

The ELT, as insiders, had previously been restricted from selling shares to cover tax liabilities from prior performance and time-based rights due to material announcements. This follows a September 22, 2025 announcement regarding ELT members' intent to progressively sell shares in future trading windows to fund tax obligations, subject to board approval and achieving the executive minimum shareholding requirement (MSR).

Managing director and chief executive, David Bortolussi, continues to hold a2MC shares well in excess of his executive MSR, and all other ELT members with multiple vested performance rights currently exceed their individual executive MSR.