Tesco's commercial and marketing director Richard Brasher has banked a profit of £3.2m on the sale of options he exercised on 24 November.
He exercised options over eight separate tranches of shares. Seven tranches were at varying prices and the eighth was for no cost. Brasher retained 361,950 shares he acquired for nothing. These shares are worth £1.57m at the current share price. Prior to this Brasher owned 39,743 shares.
Back in May 2009, Brasher raised just over £292,000 from the sale of shares issued to him under the Tesco executive incentive plan.
Start your trial of MoneyWeek today
Get unparalleled financial insight, analysis and expert opinion you can profit from.
Start your trial
Sign up for MoneyWeek’s free twice-daily newsletter.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Brasher is 46 years old and he has worked at Tesco for 23 years.
Latest Videos FromMoneyWeek
Tesco is due to release a third quarter trading statement on 8 December.
Tesco has announced it will sell the Apple iPhone in the UK this Christmas and has pledged to 'bring a bit of Tesco value to the iPhone', though it remains locked in negotiations with Apple over pricing and supply.
Tesco has big overseas expansion plans. It is teaming up with a group of Asian investors to build three shopping centres in China.
The supermarkets operator will form a 50-50 joint venture with the HSBC Nan Fung China Real Estate Fund, Metro Holdings of Singapore and Nan Fung Group of Hong Kong to open malls at Fushan in the north-east of the country and at Anshan and Qinhuangdao in the North.
Tesco will invest about £100m in the project according to reports, with each of the centres housing a super-sized Tesco supermarket as its key tenant.
Top Director Buys
Fidessa (FDSA) Director name: Mr Andy MalpassAmount purchased: 10,000 @ 1,095.00p Value: £109,500
Lupus Capital (LUP) Director name: Mr Jamie PikeAmount purchased: 260,000 @ 38.62p Value: £100,412
North River Resources (NRRP) Director name: Mr Martin Stephen FrenchAmount purchased: 1,666,667 @ 4.00p Value: £66,667
W H Ireland (WHI) Director name: Mr Lord MarlandAmount purchased: 125,000 @ 50.00p Value: £62,500
Intermediate Capital Group (ICP) Director name: Mr Philip KellerAmount purchased: 7,000 @ 284.00p Value: £19,880
Acal (ACL) Director name: Mr Nicholas JefferiesAmount purchased: 15,492 @ 128.00p Value: £19,830
Top Director Sells
WH Smith (SMWH) Director name: Ms Kate SwannAmount sold: 296,450 @ 523.72p Value: £1,552,568
Tesco (TSCO) Director name: Mr Richard BrasherAmount sold: 345,261 @ 427.87p Value: £1,477,268
Tesco (TSCO) Director name: Mr Richard BrasherAmount sold: 296,150 @ 427.87p Value: £1,267,137
WH Smith (SMWH) Director name: Ms Kate SwannAmount sold: 220,000 @ 526.58p Value: £1,158,476
Tesco (TSCO) Director name: Mr Richard BrasherAmount sold: 255,795 @ 427.87p Value: £1,094,470
Tesco (TSCO) Director name: Mr Richard BrasherAmount sold: 251,528 @ 428.32p Value: £1,077,345
First Quantum Minerals (FQM) Director name: Mr Andrew AdamsAmount sold: 9,900 @ 4,290.72p Value: £424,781
Tesco (TSCO) Director name: Mr Richard BrasherAmount sold: 151,900 @ 427.87p Value: £649,935
SSL International (SSL) Director name: Mr Garry WattsAmount sold: 72,260 @ 721.98p Value: £521,703
Tesco (TSCO) Director name: Mr Richard BrasherAmount sold: 106,613 @ 427.36p Value: £455,621
