BAE boss exercises options and sells shares worth £0.79m

13th Aug 2014 15:28

Ian King, the boss of BAE Systems, lifted his stake in the defence outfit on Wednesday after exercising options as part of the group's executive share option plan.King, who was appointed chief executive in 2008, exercised an option over 221,903 shares at an option price of 264p each under the plan.He subsequently sold 183,438 of them at a price of 430.95p, raising £790,000. The company said the reason for the disposal was to "cover the option price and tax withholdings".The expiry date for this option was March 2015.The remaining 38,465 shares lifted King's holding in BAE to just over 1.73m shares.Top Director BuysMXC Capital (MXCP) Director name: Mr Peter RiggAmount purchased: 1,981,720 @ 1.75p Value: £34,680MXC Capital (MXCP) Director name: Mr Peter RiggAmount purchased: 1,896,780 @ 1.75p Value: £33,194Top Director SellsBAE Systems (BA.) Director name: Mr Ian KingAmount sold: 183,438 @ 430.95p Value: £790,526SVG Capital (SVI) Director name: Mr Lynn FordhamAmount sold: 35,000 @ 426.65p Value: £149,328Gleeson (M J) Group (GLE) Director name: Mr Jolyon HarrisonAmount sold: 5,202 @ 340.00p Value: £17,687Gleeson (M J) Group (GLE) Director name: Mr Alan MartinAmount sold: 3,107 @ 340.00p Value: £10,564BC