Hugh Marks cashes out $1.38 million in Nine shares

By Chris Pash | 9 September 2019

Nine CEO Hugh Marks has sold down some of his personal holding in the media group, collecting about $1.388 million.

In a notice to the ASX, the company says the sale of 700,000  shares was "to satisfy personal tax obligations" from previous share issues. 

Marks now holds 2,250,580 shares in Nine directly, 282,280 indirectly and also has 1,543,699 performance rights subject to vesting conditions.

At today's prices, Marks' holding is worth more than $4 million. Nine shares are trading at $2.005. 

In 2018, his statutory pay -- including long term incentives and other bonuses -- was $5,022,869.

According to Nine's annual report, Marks' salary and cash bonuses totalled $2,649,284.

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