Hafnia chief financial officer Perry van Echtelt sold shares worth NOK 20.2m ($1.9m) on the Oslo Stock Exchange on Thursday.
The sale comes after the BW Group-backed product tanker owner began trading on the New York Stock Exchange on Wednesday.
Van Echtelt sold 250,000 shares for NOK 80.73 per share.
He now holds 382,509 shares in Hafnia, worth about NOK 30.9m.
On 22 March, the executive exercised 296,112 vested options granted under the company’s long-term incentive programme in 2021.
Van Echtelt paid only NOK 0.13 per share, or NOK 38,600 ($3,600).
Hafnia shares have surged since 2021, thanks to strong markets for product tankers.
The shipowner posted record results for the second year running in March.
The shares closed at NOK 80.75 yesterday compared with about NOK 16 at the beginning of 2021.
In December, Hafnia brought forward a lucrative share option vesting date for chief executive Mikael Skov.
A total of 3.4m options were outstanding under the plan.
They were due to vest in March, but Hafnia facilitated the vesting in December by borrowing 3.4m shares from parent BW Group, following a recommendation from the company’s remuneration committee.
Earlier in 2023, Skov sold nearly $16m of the company’s shares in less than a month.
