VOYAGER DIGITAL EXECUTIVES ADOPT AUTOMATIC SECURITIES DISPOSITION PLAN
Voyager Digital Ltd. (TSX: VOYG, OTCQB: VYGVF, FRA: UCD2) announced on December 31, 2021, that two executives adopted Automatic Securities Disposition Plans (ASDPs). These plans facilitate trades based on pre-arranged instructions to minimize insider trading risks, effective after the company's Q4 2021 financial statements are filed. CEO Stephen Ehrlich plans to sell up to 1,000,000 shares, while COO Gerard Hanshe has a plan to sell up to 142,000 shares and exercise 120,000 options. The announcement aims to uphold transparency in compliance with Canadian securities regulations.
- Implementation of ASDPs enhances transparency and compliance with securities regulations.
- Prearranged trading minimizes insider trading concerns for the executives.
- Potential market perception of executives selling large amounts of stock could negatively impact investor confidence.
TSX: VOYG
OTCQB: VYGVF
FRA: UCD2
NEW YORK, Dec. 31, 2021 /PRNewswire/ - Voyager Digital Ltd. ("Voyager" or the "Company") (TSX: VOYG) (OTCQB: VYGVF) (FRA: UCD2), one of the fastest-growing, publicly traded cryptocurrency platforms in the United States, today announced that two executive officers of the Company have adopted automatic securities disposition plans ("ASDPs").
The ASDP permits trades to be made in accordance with pre-arranged instructions given when the officer establishing the ASDP was not in possession of any material undisclosed information. The ASDP will be effective on the second trading day following the date on which the Company has filed its interim financial statements for the quarter ending December 31, 2021.
Each officer below has provided pre-arranged instructions in writing to the agent administering the ASDP, including the number of securities to be sold and setting out minimum trade prices. The ASDP prohibits the agent administering the ASDP from consulting with the relevant officer regarding any sales under the ASDP and prohibits the relevant officer from disclosing to the agent any information concerning the Company that might influence the execution of the ASDP. The ASDP has been authorized and established in the form approved by the Company and contains meaningful restrictions on the ability of the officers to amend, suspend or terminate the ASDP.
Details of the ASDPs for the two executive officers are set out in the following table. Transactions will be made pursuant to predetermined timing and other criteria and subject to minimum price thresholds specified in the applicable ASDP.
Name | Title | Intended Transactions |
Stephen Ehrlich | CEO, Director | Up to 1,000,000 common shares, with no sales below a defined floor. |
Gerard Hanshe | COO | Up to 142,000 common shares, with no sales |
below a defined floor; exercise up to 120,000 options and sell up to 120,000 common shares issued in connection with such exercised options, with no sales beyond those required to cover taxes and fees associated with exercise below a defined floor. | ||
This announcement is made and will be available on SEDAR at www.SEDAR.com pursuant to the recommended practices set forth in Staff Notice 55-317 Automatic Securities Disposition Plans of the Canadian Securities Administrators. Information regarding the ASDP and transactions thereunder, as the case may be, may be accessed on SEDI at www.sedi.ca
About Voyager Digital Ltd.
Publicly traded Voyager Digital Ltd.'s (TSX: VOYG) (OTCQB: VYGVF) (FRA: UCD2) US subsidiary, Voyager Digital, LLC, is a fast-growing, cryptocurrency platform in the United States founded in 2018 to bring choice, transparency, and cost efficiency to the marketplace. Voyager offers a secure way to trade over 70 different crypto assets using its easy-to-use mobile application and earn rewards up to 12 percent annually on more than 35 cryptocurrencies. Through its subsidiary Coinify ApS, Voyager provides crypto payment solutions for both consumers and merchants around the globe. To learn more about the company, please visit https://www.investvoyager.com.
The TSX has not approved or disapproved of the information contained herein.
Press Contacts
Voyager Digital, Ltd.
Michael Legg
Chief Communications Officer
(212) 547-8807
mlegg@investvoyager.com
Voyager Public Relations Team
pr@investvoyager.com
View original content to download multimedia:https://www.prnewswire.com/news-releases/voyager-digital-executives-adopt-automatic-securities-disposition-plan-301452209.html
SOURCE Voyager Digital (Canada) Ltd.
FAQ
What is the significance of Voyager Digital's ASDP announcement on December 31, 2021?
Who are the executives involved in Voyager Digital's ASDP?
How many shares does Stephen Ehrlich plan to sell under the ASDP?
What actions will Gerard Hanshe take under the ASDP?
When will the ASDP be effective for Voyager Digital?
