Sky finance director banks £1.7m
- Published: 20 August 2007 11:15
- Author: Rob Shepherd
- More by this Author
- Last Updated: 21 August 2007 10:57
BSkyB finance director Jeremy Darroch has banked more than £1.7m through the sale of 263,740 of company shares. [ALL]
BSkyB finance director Jeremy Darroch has banked more than £1.7m through the sale of 263,740 of company shares.Darroch was awarded a total of 323,750 shares after satisfying certain performance conditions. 175,000 of those date back to August 2004 while 148,750 shares are from November 2005.
Thee award is part of Sky's long term investment plan (LTIP) which rewards directors for meeting specified business targets. These include targets for total shareholder return and operational targets such as the growth in direct-to-home customers.
When the share options were vested last week (August 16), Darroch sold a majority of his stock but held on to 60,010 shares as a personal investment.
Sky chief executive James Murdoch also recently received a cash payout of just short of £4m for hitting operational targets dating back to 2004.
Sky could also award Murdoch and chief financial officer Jeremy Darroch a total of 840,000 shares under the LTIP if certain criteria are met over the next two years.
