LONDON (ShareCast) - Equipment rental business Ashtead has seen a number of board-members sell off their share awards given to them as part of their performance share plan (PSP) in June 2010.

Awards given to executives under the PSP vest on the third anniversary of grant subject to continued employment and the achievement of certain performance targets, the company explained in a statement on Tuesday.

Since the start of June 2010, Ashtead's share price has surged by well over 500%, having gained over 50% so far in 2013.

Chief Executive Officer (CEO) Geoff Drabble, who joined the company in 2007, received 694,416 shares under the 2010 PSP and subsequently sold all of these shares at a price of 664.5p, making himself a tidy sum of £4.61m. Drabble still has over 1.3m shares left in the company, equal to a 0.26% stake.

Brendan Horgan, the CEO of Ashtead's American division Sunbelt Rentals, sold off 171,017 shares vested under the 2010 PSP at the same price, earning himself £1.11m. He still owns a 0.09% interest.

Finance Director Suzanne Wood received 125,757 shares under the 2010 PSP and sold them all for £0.84m, leaving her with a 0.04% stake.

Meanwhile, Sat Dhaiwal, the CEO of the UK division A-Plant, was awarded 223,350 shares as part of the 2010 PSP and sold 104,975 for £0.68m to pay off taxes. He retained 118,375, taking his complete holding to 0.07%.

The transactions came on the same day that each of the executives were granted another handful of awards under the 2013 PSP.


Top Director Buys

Investec (INVP)
Director name: Mr Bernard Kantor
Amount purchased: 100,000 @ 422.46p
Value: £422,460

Gable Holdings Inc. (GAH)
Director name: Mr William Dewsall
Amount purchased: 217,600 @ 45.50p
Value: £99,008

Camco Clean Energy (CCE)
Director name: Mr Scott J McGregor
Amount purchased: 2,500,000 @ 1.60p
Value: £40,000

Immunodiagnostic Systems Holdings (IDH)
Director name: Dr Patrik Olof Dahlen
Amount purchased: 5,719 @ 450.00p
Value: £25,736

InternetQ (INTQ)
Director name: Mr Iain B Johnston
Amount purchased: 4,000 @ 306.22p
Value: £12,249

Pan European Terminals (PAN)
Director name: Mr Simon L Escott
Amount purchased: 50,000 @ 20.00p
Value: £10,000


Top Director Sells

Ashtead Group (AHT)
Director name: Mr Geoffrey Drabble
Amount sold: 694,416 @ 664.50p
Value: £4,614,394

Ashtead Group (AHT)
Director name: Mr Brendan Horgan
Amount sold: 171,017 @ 664.50p
Value: £1,136,408

Ashtead Group (AHT)
Director name: Ms Suzanne Wood
Amount sold: 125,757 @ 664.50p
Value: £835,655

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE