WH Smith's financial director Robert Moorhead has sold nearly £240,000 worth of shares in the newsagent chain.
He offloaded 53,896 shares at 445.2p a time and now has 176,504.
The firm's shares have rallied since he last offloaded shares in February, pocketing 360.9p a time for 10,197 shares
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In a trading update in June, WH Smith, which operates high street stores as well as smaller outlets at train stations and airports, said like-for-like sales in the first 13 weeks of the second half were down 4% on the same period last year, with total sales up 1%.
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"The economic environment remains uncertain and, whilst we continue to be cautious about consumer spending, we are confident in the outcome for the full year," it added
However, the firm has benefitted from a broader market rally, with sentiment boosted by cheery economic news and encouraging interim results from several companies that reported figures for the first six months of 2009.
WH Smith, whose financial year runs to 31 August, reports its full-year results on October 15.
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