Xero (ASX:XRO) CEO share sale coincides with A$875 million market-value slide
Xero Limited closed 3.6% lower at A$68.27 on Wednesday, taking its decline from Friday’s close to 7.0% across the three sessions spanning Monday’s disclosure that Chief Executive Sukhinder Singh Cassidy had sold her remaining ordinary shares. Applied to the 170.569 million shares Xero reported on issue at March 31, excluding treasury stock, that move cut an estimated A$875 million from its equity value.