Sports Direct CEO and FD net 6.4m pounds after selling shares

3rd Oct 2013 07:43

Sports Direct International's Chief Executive Dave Forsey and Finance Director Bob Mellors have each netted 6.4m pounds after selling shares from a bonus plan.The sportswear retailer said the pair had exercised options granted to them under the company's executive bonus scheme to buy 1m shares in the company at 10p each. They have both sold 950,000 shares at a price of 680p a share, making them a profit of £6.4m and leaving them with 50,000 of shares each worth £352,500, for which they would have paid £5,000.The share award was subject to underlying earnings hitting £195m in 2010/2011 and there being an underlying earnings to net debt ratio of two or less at the end of the same financial year. The bumper bonus follows a stellar performance by Sports Direct's share price which has nearly doubled this year to a close last night of 705.17p. Top Director BuysStatPro Group (SOG) Director name: Mr Mark C AdorianAmount purchased: 202,850 @ 80.00p Value: £162,280Sutton Harbour Holdings (SUH) Director name: Mr Graham Scott MillerAmount purchased: 97,000 @ 25.50p Value: £24,735CLS Holdings (CLI) Director name: Mr H O Thomas LundqvistAmount purchased: 1,330 @ 1,167.84p Value: £15,532Top Director SellsSports Direct International (SPD) Director name: Mr Dave ForseyAmount sold: 950,000 @ 680.00p Value: £6,460,000Sports Direct International (SPD) Director name: Mr Bob MellorsAmount sold: 950,000 @ 680.00p Value: £6,460,000Berendsen (BRSN) Director name: Mr Kevin QuinnAmount sold: 50,000 @ 908.40p Value: £454,200Mobile Streams (MOS) Director name: Mr Simon David BuckinghamAmount sold: 630,000 @ 70.13p Value: £441,819Berendsen (BRSN) Director name: Mr Kevin QuinnAmount sold: 25,000 @ 908.40p Value: £227,100TB