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CEO's dismissal outcome a cautionary tale on share plans

A termination that stripped Harrier Group's former CEO of 20% equity in the company and left her with an $85k interest bill highlights some aspects of share arrangements that are "not very well understood", an advisor says.

"These arrangements are very complex and this case shows that," William Buck director Cameron Martin tells Shortlist.

The Federal Circuit Court decision regarding former Harrier CEO Kelly Reynolds' misconduct termination, which Shortlist reported last week, sets out in detail the share arrangement the parties had in place.

Specifically, the decision shows that in August 2013 the employer invited Reynolds (previously known as Kelly Quirk) to apply for 352,618 fully paid ordinary shares in Harrier Group, which were offered to her as CEO...