Sainbury's King sells options

Sainsbury's chief executive Justin King has sold around £1.8m worth of options in the supermarket chain.

King exercised an award of 898,000 shares under the J Sainsbury Share Plan 2005. He sold 369,000 of those shares at 318p each to fund the tax and national insurance liability from the exercise of the award and retained the remaining shares.

He also disposed 201,000 shares under the Long term Incentive Scheme 2006 (Value Builder Share Plan) at the same price.

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King now holds 1.16m shares in the group.

Trading director Mike Coupe also sold some options in the supermarket chain.

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