Mikael Skov is taking home a fortune after cashing in some Hafnia stock.
The chief executive of the Danish tanker giant made NOK 87.8m ($8.3m) after selling 1m shares on the Oslo Stock Exchange, regulatory filings show.
The sale was made on Wednesday when the stock was trading at NOK 87.77.
The shares opened yesterday at NOK 88.95 and slipped throughout the day before a late rally to close at NOK 87.50.
In Oslo, Hafnia has traded between NOK 49.70 and NOK 93.80 in the past year.
It also listed on the New York Stock Exchange in April, where its shares have hovered between $4.92 and $8.99.
The company decided in late May to pull forward its long-term incentive plan, allowing executives, including Skov, to exercise options for more than 1.8m shares a year early.
Skov, who has been negotiating with the Oslo Stock Exchange to open up US dollar trading, given the decline in the Norwegian kroner, exercised those options in early June, earning more than 731,000 shares.
He has been eligible for more than 1.3m shares through the programme each year since at least 2019, according to US Securities & Exchange Commission filings. Typically, the options vest after three years.
Hafnia has not said when it intends to publish its second-quarter earnings.
In its first-quarter report, the company said it had fixed 68% of revenue days at $37,896 per day, up from $36,230 per day for the three months ending 31 March.
