The Globe and Mail reports in its Saturday, Aug. 15, edition that Canaccord Genuity Group announced that its president and chief executive officer Dan Daviau sold 600,000 common shares of the company last week.
The Globe's Brenda Bouw writes that the company stated in a release: "Mr. Daviau reported that the share sale was made primarily to satisfy personal tax obligations related to the June, 2019, vesting of restricted share units he received as a participant in the company's 2016 private placement to employees. The private placement was made to increase alignment of participating employees with the company's common shareholders and was publicly announced at the time."
The company said the sales represented approximately 9.8 per cent of Mr. Daviau's total holdings in the company, consisting of common shares, performance share units and stock options. The release also states, "Mr. Daviau has informed the company that he does not expect to sell additional shares at this time."
© 2022 Canjex Publishing Ltd. All rights reserved.