Crozier sells free ITV shares to pay the taxman

Adam Crozier, the former chief executive officer of the Football Association and Royal Mail, and now occupying the same position at terrestrial broadcaster ITV, has sold off about half his shareholding in ITV.

Crozier, who joined ITV on 26 April on a base salary of £775,000 per annum plus a pension contribution of 9% of base salary along with "other typical benefits", was awarded 198,636 in restricted shares, as per his "golden hello" arrangement, in which he will receive 397,272 restricted shares in three equal tranches over an 18 month period.

Crozier, who also received £200,000 in cash upon taking up the role at ITV, sold a sufficient number of the first tranche of shares at 67.2915p per share to satisfy income tax, national insurance liabilities and associated costs.

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The sale still leaves him with 97,126 shares, representing just 0.002% of ITV's issued ordinary share capital.

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