Hargreaves Lansdown chief executive Ian Gorham has increased his shareholding in the company and made a net profit of £4.7m after exercising share options.
In an announcement on the London Stock Exchange this morning, Hargreaves said Gorham has exercised options to buy 800,000 shares in the company at a price of 458.23p. It equates to a total cost of £3.7m.
He has simultaneously sold 715,000 shares in the company for the market value of £11.79. The sale equates to £8.4m before tax.
The net purchase of 85,000 shares increases Gorham’s holding from 357,628 shares to a total of 442,628 shares, 0.093 per cent of the ordinary shares in issue.
Gorham retains 64,109 unexercised share options in a number of schemes.