Naspers Executive Sells $13.2 Million in Shares to Cover Tax Obligations
In a notable financial disclosure, Phuthi Mahanyele-Dabengwa, an executive director at Naspers and the Chief Executive of its South African operations, recently sold a substantial portion of her company shares. This significant transaction, valued at approximately $13.2 million (R239.6 million), was undertaken to meet personal tax obligations arising from vested long-term incentive shares, shedding light on the mechanics of executive compensation at one of Africa’s leading technology and investment firms.
Decoding the Executive Share Sale at Naspers
The sale involved 42,305 Naspers N ordinary shares, executed on July 30, 2025. These shares were offloaded at a volume-weighted average price of R5,663.84, equivalent to roughly $315 per share. The primary driver for this divestment was to cover tax liabilities associated with company shares that vested between 2020 and 2023. These shares form part of the long-term incentives granted to Ms. Mahanyele-Dabengwa during her tenure, reflecting a standard practice for managing executive compensation in large corporations like Naspers.
A notable aspect highlighted by Naspers’s regulatory disclosure is the substantial capital gains generated from this disposal. The base costs of these share options, as per the filing, ranged from R2,348.69 ($130) to R3,261.28 ($181) per share, clearly indicating the significant appreciation in value over the vesting period. Post-sale, Phuthi Mahanyele-Dabengwa still maintains a considerable stake in Naspers, retaining 9,999 shares currently valued at about R55.7 million, or approximately $3 million. This continued holding underscores her ongoing commitment to the company’s future, even as she manages personal financial obligations stemming from her compensation package.
This transaction serves as a transparent example of how senior executives manage their remuneration in the form of shares, particularly concerning tax implications. It’s a common and expected practice for executives to sell a portion of their vested shares to cover the tax burden, rather than an indication of a lack of confidence in the company. For Naspers, a cornerstone of the South African and global tech investment landscape, such disclosures reinforce corporate transparency and offer insights into the financial dealings of its top leadership.
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