Hargreaves Lansdown CEO Ian Gorham has sold an interest in 750,000 of the group's shares for £3.35m and reinvested half the proceeds back in the company.
Gorham (pictured) exercised his interest in the shares earlier this week after a three-year lock-up period expired, taking advantage of a period of strong share price performance for the platform group. The sale relates to a 2009 joint share ownership plan (JSOP), which saw Gorham and other senior figures acquire the right to the growth in the value of the shares from the date of the award. At that date, 9 December 2009, each share had a market value of 268.8p. Hargreaves' market value soared over the subsequent three years, meaning the shares were sold this week at 714.8p apiece. ...
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