Telkom CEO disposes of shares worth over R6.2 million

Thor

Thor

Honorary Master
Joined
Jun 5, 2014
Messages
44,240
Funny, I also sold my Telkom shares.

Thor said:
As a sign of protest, I sold my Telkom shares and implore others not to use this service, do not support the criminal SABC organization.

Use Netflix instead, besides, it's better.
Click to expand...

Maybe he is joining my cause.
 
j4ck455

j4ck455

Executive Member
Joined
Jan 2, 2006
Messages
7,505
So even Telkom's CEO thinks the launch of TelkoMoan was premature and a complete failure?
 
V

Valner

New Member
Joined
Oct 12, 2020
Messages
5
I cannot believe that nobody has seen the scam in this. You as CEO takes a 0% increase as an example for the staff, so they get 0% (management), operational staff maybe a 5% after months of negotiations and strike warnings. As CEO he negotiates his "performance" with the board. Lets say if he meets 100% of his objectives he gets lets say 1M shares worth R330M as an incentive bonus. If he meets 80% of the targets he gets only 10%, 100k worth R3.3M shares. In the meantime he convinces the board to pay a dividend to keep shareholders happy. So he gets R5 x 1M = R5M in dividends. Yes dividends gets paid on the full 1M allocation, yes it is already taxed, yes you don't have to declare that. Who needs a salary increase to cook the books like this. Who will ever investigate this scam...?
 
M

milomak

Honorary Master
Joined
May 23, 2007
Messages
12,571
if you watched sens announcements, you would see that a number of directors across different companies liquidate share options as december nears
 
Gnome

Gnome

Executive Member
Joined
Sep 19, 2005
Messages
7,210
Valner said:
I cannot believe that nobody has seen the scam in this. You as CEO takes a 0% increase as an example for the staff, so they get 0% (management), operational staff maybe a 5% after months of negotiations and strike warnings. As CEO he negotiates his "performance" with the board. Lets say if he meets 100% of his objectives he gets lets say 1M shares worth R330M as an incentive bonus. If he meets 80% of the targets he gets only 10%, 100k worth R3.3M shares. In the meantime he convinces the board to pay a dividend to keep shareholders happy. So he gets R5 x 1M = R5M in dividends. Yes dividends gets paid on the full 1M allocation, yes it is already taxed, yes you don't have to declare that. Who needs a salary increase to cook the books like this. Who will ever investigate this scam...?
Click to expand...
Roughly half my yearly salary is in shares. And I can tell you right now there is no "not paying tax". You pay income tax on any shares or dividends paid on shares. And once you sell them you pay capital gains tax (for over R40k in gains IIRC). More importantly, if I recall, you pay full income tax if your shares vested more than 5 years in the past. So if you don't sell your shares before they are 5 years old you get to pay full income tax again.

You don't even have the option of not paying tax because it goes straight on your IRP5 and you employer collects tax on behalf of SARS as usual. Most companies offer the option of a) Sell all shares, b) Sell to cover (sell enough shares to cover the tax on the shares) c) Pay to cover (you money before the allocation to cover the tax deficit).

And if your shares are in the name of an international company (like my case), you'll get a call from your friendly SARS rep asking you why you are receiving money, followed by, when did you pay tax on it.
 
Last edited:
You must log in or register to reply here.
Top