Bob Holt, Chairman of Mears, a social housing maintenance firm, has exercised share options for over 1,500,000 ordinary shares and subsequently sold two million shares - his entire holding of ordinary shares in the firm.
He sold the shares for 250p each for a total of £0.5m.
56-year-old Holt has retained an interest in share options under the Special Incentive Plan over one million ordinary shares.
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The company announced earlier this week that it had beat profit forecasts for 2011 as it sought to grow its care homes business.
Turnover came in at £589m slightly below the consensus forecast of £598m but still 12% ahead of 2010.
Profits before tax beat expectations, totalling £31.5m versus a forecast of £31.2m. The figure was 9% up on 2010.
Mears also says it has booked revenues equivalent to 94% of the consensus forecast for 2012 and 80% of 2013's expected turnover.
The share price dropped 2.75% to 248.00p on Friday.
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