Tesco chief executive Sir Terry Leahy has made a £2.24m gain on the sale of options he exercised on 27 November.
The Tesco boss acquired 228,901 shares at an option price of 173p a share - a total cost of £396,000 - and he sold 148,808 of these shares. He also sold 439,693 of the 1,378,632 shares he received at nil cost.
As well as the £2.24m gain on disposals, Leahy retains just over 1m shares - worth around £4.3m at the current share price of 423p. That takes his holding to 6.7m shares. His whole stake is worth more than £28m.
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Back in May, Sir Terry raised £635,000 from selling shares he received through the executive incentive plan.
Tesco plans to expand its financial services operations. It already has an 8% share of the credit card market and 4% of the car insurance market. Tesco has stated that it is more interested in acquiring a banking platform rather than individual branches that larger banks are forced to sell off.
Top Director BuysGulf Keystone Petroleum (GKP) Director name: Mr Jeremy AsherAmount purchased: 2,000,000 @ 94.00p Value: £1,880,000
Cape (CIU) Director name: Mr Sean O'ConnorAmount purchased: 25,000 @ 231.43p Value: £57,858
Devro (DVO) Director name: Mr Peter WilliamsAmount purchased: 40,000 @ 122.50p Value: £49,000
Origo Sino-India (OSI) Director name: Mr Christopher Martin JemmettAmount purchased: 250,000 @ 16.75p Value: £41,875
AIREA (AIEA) Director name: Mr Martin ToogoodAmount purchased: 290,000 @ 13.00p Value: £37,700
Hasgrove (HGV) Director name: Mr Rod HydeAmount purchased: 50,000 @ 49.25p Value: £24,625
Angel Mining (ANGM) Director name: Mr Francis David Sherston ChapmanAmount purchased: 300,000 @ 5.00p Value: £15,000
Top Director SellsTesco (TSCO) Director name: Sir Terry LeahyAmount sold: 439,693 @ 423.67p Value: £1,862,847
Tesco (TSCO) Director name: Sir Terry LeahyAmount sold: 148,808 @ 426.86p Value: £635,202
Alterian (ALN) Director name: Mr David EldridgeAmount sold: 270,000 @ 182.00p Value: £491,400
Alterian (ALN) Director name: Mr Michael TalbotAmount sold: 270,000 @ 182.00p Value: £491,400
Alterian (ALN) Director name: Mr Tim P McCarthyAmount sold: 270,000 @ 182.00p Value: £491,400
Alterian (ALN) Director name: Mr David CutlerAmount sold: 234,800 @ 182.00p Value: £427,336
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