Naspers Executive Sells $13.2 Million in Shares for Tax Obligations
Phuthi Mahanyele-Dabengwa, a prominent executive director at Naspers and the chief executive of its South African operations, recently sold a significant portion of her Naspers shares. This transaction, which netted R239.6 million (approximately $13.2 million), was undertaken to fulfil personal tax liabilities arising from previously awarded company shares. Such sales are a common mechanism for executives to cover the taxes associated with stock-based compensation as it vests.
Details of the Naspers Share Disposal
The sale, executed on July 30, 2025, involved 42,305 Naspers N ordinary shares. These shares were sold at a volume-weighted average price of R5,663.84, which translates to about $315 per share. The core reason for this substantial disposal was to settle tax obligations incurred from long-term incentives granted to Ms. Mahanyele-Dabengwa between 2020 and 2023, which have now vested. Regulatory filings by Naspers indicate that the base costs of these options ranged significantly, from R2,348.69 ($130) to R3,261.28 ($181) per share, clearly highlighting the considerable capital gains realised through this transaction. Following this sale, Ms. Mahanyele-Dabengwa retains a substantial stake in the company, holding 9,999 Naspers shares valued at roughly R55.7 million (around $3 million). This ensures her continued alignment with the company’s performance and strategic direction within the African tech investment landscape.
This transaction underscores a standard practice in executive compensation, where stock options and share awards are granted as incentives, and their vesting often necessitates a partial sale to cover the associated tax burden. For a major player like Naspers, a cornerstone of the African tech sector, such disclosures provide transparency into executive compensation structures and individual financial planning within the company’s leadership.
Keywords
Related Keywords: Naspers director share sale, Naspers stock sale, director sells Naspers shares, 132 million share sale, Naspers insider selling, executive stock sale Naspers, Naspers director sells shares, Naspers share divestment, director sells 132M shares
