CEO Hugh Marks sells $1.38m worth of Nine shares

Nine’s CEO Hugh Marks has disposed of 700,000 ordinary shares in the company, and pocketed $1.38m from the sale.

Nine said the move was to satisfy Marks’ tax obligations arising from previous share issues.

Hugh Marks took the helm at Nine late in 2015 

Marks now holds 2,250,580 shares in the company directly, and 282,280 indirectly. A further 1,543,699 shares are available via performance rights, subject to meeting specific vesting conditions.

Marks sold the 700,000 shares last week, for values between $1.9504 per share and $2.00 per share.

At the time of writing, Nine has a market capitalisation of $3.41bn, and shares are trading at $2.00.

Nine’s 2019 financial year results released last month show Marks had a fixed remuneration of around $1.4m. With bonuses and incentives factored in, however, this climbed to a total package of $4,937,638 – down very slightly on the year prior’s $5,022,869.

Rival Seven West Media is currently trading at $0.41, with a market capitalisation of $610.75m.


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