John Morgan cashes in more shares

摘要

Morgan Sindall chief executive John Morgan has pocketed £13m after cashing in 650,000 of his shares in the contractor as part of an "estate planning" move. Morgan sold the shares at £20.50 each, hours after the firm announced it was on course to beat its 2021 profit target thanks to a better-than-expected start to the year. It is the third time in the past 18 months that the CEO has cashed in a significant number of shares in his company. In November 2019, he netted £4.1m when he sold 300,000 shares, and then received £4.1m from the sale of 220,000 in February 2020. After the latest sale, Morgan, who co-founded the contractor as Morgan Lovell in 1977, still owns just under 3.5 million shares, worth about £71m at current prices.