UK shipbroker Clarksons’ top two bosses have acquired more performance-related shares, swelling their ownership in the London-listed group.
A filing revealed chief executive Andi Case added 62,766 shares to his total as nil-cost options vested from long-term incentive plans in 2020 and 2021.
Case sold 29,501 of these at £40.75 each to cover tax liabilities, raising a total of £1.2m.
Including restricted shares and performance-related options, Case has a stake of 2.28% worth £28.3m ($35m).
Finance director and operating chief Jeff Woyda saw 39,941 shares vest, and sold 18,733 of them.
His stake stands at 0.57%.
The stock was trading up a fraction of a per cent at £40.25 on Wednesday, a rise of 27% so far this year.
Earlier in April, Clarksons’ annual report showed Case and Woyda’s total remuneration packages increasing.
Case’s basic salary was £550,000.
But a bonus of £10.4m, plus pension payments and other benefits, brought his total rewards to £11.9m. This compared with £10.11m in 2022.
Another record year
Woyda earned £350,000, plus a bonus of £2.7m, for a total of £3.7m, up from £3.3m the year before.
Director Tim Miller, chairman of the remuneration committee, told TradeWinds the duo had delivered another record year, with a 21st straight annual dividend payment.
Net profit in 2023 hit £85.8m, up from £79.6m in 2022.
Record underlying pre-tax earnings were £109.2m, compared with £100.9m the year before.
