London-listed broker Braemar has handed over shares worth about £645,000 ($825,000) to top bosses as part of bonus awards.
Chief executive James Gundy received 169,925 shares, with chief operating officer Tris Simmonds netting 26,315 and finance director Alistair Borthwick pocketing 18,796.
Gundy then sold 80,156 shares at £3 each for a total of £240,000, while Simmonds sold 12,425 and Borthwick offloaded 8,875.
The shares were sold to meet a liability for income tax and employee national insurance arising from the awards.
Gundy now has 868,534 shares in Braemar worth £2.6m, for a holding of 2.8%, based on 30.56m shares outstanding.
Simmonds holds 333,970, with Borthwick retaining 66,369.
The stock was up 1.5% at £302.50 on Tuesday.
Last week, the company awarded share options worth about £1.3m to its top three executives after surviving a major rebellion on its pay policy.
Nil-cost options were granted under its long-term incentive plan.
Gundy received options for 159,503 shares, Simmonds 125,923 and chief finance officer Grant Foley another 109,134.
Five-year term
There is no exercise price for the awards but they will vest in three years, subject to the London shop’s earnings performance.
The bosses will then have to hold on to the shares for two more years.
The company also awarded a smaller number of options under its separate share option plan.
The exercise price for these is £2.98.
Gundy was been awarded 20,147, with Simmonds getting 16,510 and Foley 6,347.
The awards came after a revolt on pay by shareholders at the annual general meeting in London on 3 July.
Braemar pinned some of the blame for this on former employees.
The directors’ remuneration report gained backing from just 54.9% of the votes, down from 57% in 2023.
