EVZ (ASX:EVZ) said Non-Executive Chairman Graham Burns has sold 5 million ordinary shares in the company through an on-market sale, according to a Thursday filing with the Australian bourse.
The sale accounts for around 4.1% of the company's total issued shares and about 38% of Burns' former stake, the filing said.
Following the sale, Burns held around 7.3 million shares, which represent about 6% of the company's issued capital, the filing added.
The company's shares tumbled 9% in recent Thursday trade.