Top executives at Harmony Gold, South Africa’s largest gold producer chaired by billionaire Patrice Motsepe, have sold nearly R144 million ($8.68 million) worth of shares after deferred share awards vested under the company’s 2018 Deferred Share Plan.

According to a JSE regulatory filing published on October 7, 2026, Harmony’s directors, prescribed officers and company secretary sold a combined 495,775 vested ordinary shares in on-market transactions on October 2. The shares were sold at a volume-weighted average price of R290.4505 ($17.48), with individual transactions executed between R287 ($17.27) and R295.29 ($17.77) per share.

Harmony Gold CEO sells $2.2 million, executives sell awards

Group Chief Executive Officer Beyers B. Nel accounted for the largest transaction, selling 124,064 shares valued at R36.03 million ($2.17 million). Nel had 160,992 shares vest on September 18, retaining 36,928 shares to meet the company’s minimum shareholding requirement.

Financial Director Boipelo P. Lekubo sold 75,919 vested shares worth R22.05 million ($1.33 million), while Executive Director Harry Ephraim Mashego sold 91,632 shares valued at R26.61 million ($1.6 million). Both executives retained shares in their own names following the transactions. Chief Development Officer Johannes J. van Heerden sold 113,535 shares worth R32.98 million ($1.99 million), making his transaction the second-largest among Harmony’s senior executives.

Chief Operating Officer Australasia A. Jaco Boshoff sold 30,764 shares valued at R8.94 million ($538,266), while Chief Corporate Officer Marian P. van der Walt sold 31,856 shares worth R9.25 million ($556,947). Chief People Officer Anthon Z. Buthelezi sold 12,450 shares for R3.62 million ($217,965), while Deputy Group Chief Executive Officer Floyd S. Masemula sold 5,901 shares worth R1.71 million ($102,960). Chief Sustainability Officer Urishanie Govender sold 948 shares valued at R275,347 ($16,578). Group Company Secretary Shela S. Mohatla sold 8,706 shares for R2.53 million ($152,332).

Sales follow deferred share vesting

The transactions relate to deferred share awards that vested on September 18 under Harmony Gold’s Deferred Share Plan 2018. The company said the dealings were undertaken following prior clearance in accordance with the JSE Listings Requirements. The transactions represent direct beneficial interests held by the executives and company secretary.

Harmony Gold, one of South Africa’s major gold producers, is listed on the Johannesburg Stock Exchange under the share code HAR. The company has operations across South Africa and internationally, with gold production remaining central to its business.

The latest disclosures show senior management monetising a portion of their vested equity awards while, in several cases, retaining shares to meet minimum shareholding requirements.