Sankar Narayan, the CFO of Xero, just sold 30,000 of his shares in the cloud-based accounting software group.
The company says the sale will meet Narayan’s personal tax liabilities on shares granted to him as part of his remuneration package.
According to filings with the ASX, Narayan realised an average price of $29.4494, bringing in a total of $883,482. Xero shares closed at $29.91 on Friday.
He retains an interest in 42,874 Xero shares, plus 46,902 restricted stock units and 291,000 options.
The company, which had its IPO in 2007, is now cash flow break-even after a decade of rapid market expansion.
In its latest half year results, Xero posted a loss of $NZ21.08 million, an improvement of more than 50% on the same six months last year. Revenue jumped 37% to $NZ187.8 million.