Simon Bentley, a non-executive director in Mike Ashley's Sports Direct International, has sold four-fifths of his shareholding.
Bentley raised £213,000 from selling 200,000 shares at 106.55p each. That leaves Bentley with 50,000 shares in the sports goods retailer.
Bentley is a former chairman of outdoor wear retailer Blacks Leisure. Sports Direct recently decided not to bid for Blacks.
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Sports Direct raised its full year profit forecast following an increase in third quarter earnings.
In December, the group said it expected to achieve full year underlying EBITDA of at least £155m after the £10m charge for the bonus share scheme.
Based on current trading and subject to current exchange rates, Sports Direct is now targeting underlying EBITDA of at least £160m.
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