Chief executive of Bargain Booze-owner Conviviality Retail Diana Hunter sold £1.36m worth of shares in the company yesterday.
Hunter exercised options on 850,000 shares under the company’s equity plan at an option price of 2.719p before selling the shares for 160p per share.
Following this transaction, Hunter still holds an interest (via option) of 2.83 million ordinary shares, representing 4.24% of the company’s total issued share capital and worth around £4.8m at current market value.
The share sale drove Conviviality’s share price down 2.9% to 167p.
The alcohol retailer, which floated in August 2013, is still trading well above its 100p float price, but the shares are trading flat so far in 2014 having dropped back from their mid-January peak of 199p.
The company’s annual report published today revealed that Hunter was granted a pay package worth £563,270 after its first year as a public company, including a bonus on the completion of the IPO of £131.8k and a £93k annual bonus.
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