As I said before, remember the other options he exercised 14 months ago (when he didn't sell any) - he has had to lay out £390k on exercising these various options in 14 months. Gross that up for tax and we're talking around £580k of expenditure.
The selling of £650k of shares is therefore more understandable in comparison to having to spend £580k of pre-tax income in just over a year. As well as having to deal with the resultant CGT bill.
The CEO of BDI twice sold large chunks of shares, once at 95p and then at 134p last September. In November BDI announced two mega contracts - and now the price is 170p.
Sometimes liquidity and timing prior to what the City thinks is going to be good news are the drivers for enabling large director share transactions more than anything else. If VLK were now to announce bad news the director's and VLK's reputation would be hugely damaged. I therefore believe there'll be an excellent trading statement in the next few weeks.
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