Ardmore Shipping director Mats Berglund has boosted his bank balance through a sale of the company’s stock.
A US Securities and Exchange Commission filing shows the experienced shipping executive offloaded 10,000 shares this week in the Irish tanker owner, which is listed in New York.
The deal was done through US brokerage Stifel Nicolaus and raised $163,500.
Berglund joined the Ardmore board in 2018, together with Carisbrooke Shipping Holdings managing director Helen Tveitan de Jong.
He was chief executive of Hong Kong bulker owner Pacific Basin at that time but left the role in 2021 after nine years to return to his native Sweden.
Ardmore’s shares closed down 2% at $16.03 on Tuesday.
But the stock was worth just $6 five years ago and started 2024 at $14.
Berglund’s exact shareholding is not public.
All Ardmore directors and executives owned less than 1% as a group as of 23 May last year, according to the annual 20-F filing.
Berglund has more than 30 years of shipping experience in Europe, the US and Asia, including as chief financial officer and chief operating officer of marine fuel trader Chemoil Energy, and as head of crude transportation for US owner Overseas Shipholding Group.
Stena background
He has also worked at Sweden’s Stena group, finishing his time there as president of Stena Rederi, the parent company for all its shipping activities.
In November, Berglund made a surprise return to Pacific Basin, joining as a non-executive director.
The initial term is three years for an annual fee of HKD 800,000 ($102,700).
