As the Fairfax Media AGM rolled out at Melbourne’s Crown casino precinct this morning, it seemed that no one at the top table was particularly keen to talk about this director interest statement lodged with the ASX on August 30.

The filing showed that Fairfax CEO Greg Hywood had reached all the targets set out in his 2013 long-term incentive scheme share grant and the board had decided to settle half of his options by paying him $2.8 million in cash. This was based on 35c for each of the 8 million cancelled options, which had an exercise price of 58c against a market price at the time of 93c.