Mark Clare, chief executive of housebuilder Barratt who last week announced he was quitting after nine years in charge, has cashed in £10.7 million worth of shares.
That leaves him with a residual stake of just 304,000 shares worth over £1.5 million in the building firm. But he also holds options and long-term share awards over a further 2 million shares worth another £10 million plus.
Clare stands down in July, handing over to finance director David Thomas, but will remain on the board until the end of October.
He said he wants to build up a portfolio of non-executive director roles, and is currently on the boards of United Utilities and the Energy Savings Trust. He is also a trustee of the Building Research Establishment.
In addition, Barratt chief operating officer Steven Boyes cashed in £3 million worth of shares while general counsel Tom Keevil sold £1.4 million worth.
Most of the director shares sales were at prices ranging from 527p to 534p. Today they rose 6.5p to 535p.
