Anavex Life Sciences Corp (AVXL)

[wildcard235]

"It's the exercising of options that can be taxable."

I wrote that exercising of employee stock options is a taxable event, so we are in agreement on that point.

I further agree that an exercise of employee stock options is not inherently good or bad, or a reflection of anything about the underlying company condition.

You wrote, "Option holders tend to exercise when they intend to sell," but they also tend to exercise when if they resign or are terminated, because the option will cease to exist after their employment ends.

So if our CFO is being replaced with someone more experienced, I think that is very likely why she is exercising her options, and I suspect that like most folks who exercise them for any reason, she had to sell some to cover the tax liability.