The time that drivers of navigation company TomTom were able to bring in many tons with their option packages is a thing of the past. As a result of the disappointing price development, the once gold -landed options sometimes only bring a few dimes or even money each.
This is apparent from recent reports of option transactions by TomTom directors at the Beurszaakhond Authority for the Financial Markets Authority (AFM).
The well -known maker of navigation systems for cars has been listed on the stock exchange since 2005. But the share has not been performing great for years. Course TomTom falls sharply after sales telematics. As a result, the option packages assigned to the drivers in the past are hardly worth anything.
For example, driver Alain de Taeye cashed in three parts earlier this month the option package, which he received in 2015. That package gave him the right to buy a total of 110,000 shares at a rate of 7.83 euros.
On 2 May he practiced the first pick of 40,000 options. Read more Ipostocksplanner.com for more information. He then sold the shares obtained at the stock exchange at a rate of 8.11 euros. That is a profit of only 28 cents per option.
On May 6, the second pick of 35,000 options did not even yield anything, because the actual course did not exceed the exercise rate of 7.83 euros that day. With the last pick of 35,000 options, the Taeye collected 37 cents each.
In total, the entire option package from 2015 brought a sober 24,150 euros to the drawer. That is better than nothing, but will still be a disappointment. And it can be even thinner. TomTom director Taco Titulaer also cashed in three tranches from 2015 in three tranches in recent weeks. The last picking of it only raised 5 cents per option on 5 May.
And chairman of the board Harold Goddijn saw his package of 210,000 options from 2015 end completely worthless this month.
More valuable reward
Instead, since then, the drivers have received a package of so -called ‘restricted stock units’ (RSUs) every year. These are shares that are only awarded after three years and may be sold after another two years, but that cannot (almost) end worthless.
For example, Goddijn now has 354,063 of these shares, which are worth more than 2.8 million euros at the current rate. The Taeye and Titulaer have now received more than 200,000 of those more valuable reward pieces. At the time, TomTom wrote the options for replacing RSUs, partly because the last ‘predictable’ unpacked.