Cettire chief financial officer Tim Hume is one of the biggest casualties from a slump in the luxury retail platform’s share price, saddled with a $4.2 million tax bill at the same time as his stock options have become nearly worthless.
Mr Hume was issued 2.5 million options in August 2023, with an exercise price of $1.21. They expire two years after vesting, which occurred in late February when Cettire’s share price was sitting at $4.79. The options bundle was worth about $12 million at the time.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
