Case and Woyda pocket more Clarksons shares

Chief executive's ordinary shares rise above 2% of the London shipbroker's total share capital.

Andi Case has exercised options for GBP 3.27m (4.02m) worth of the Clarksons' London-listed shares.

The shipbroker's chief executive moved on nearly 165,000 of the options yesterday.

But a regulatory disclosure filed today shows he quickly sold 84,300 shares at GBP 19.50 apiece to satisfy tax obligations, leaving him to pocket nearly 80,600 new shares worth GBP 1.6m at today's prices.

Options date back to 2007

The options had been granted to Case between 2007 and 2011. Most were nil-cost options, meaning he did not have to pay to acquire the shares.

Meanwhile, finance chief Jeff Woyda exercised nearly 33,400 in nil-cost options granted between 2011 and 2012.

He too sold about half the shares for tax reasons, leaving a balance of about 17,600 shares worth GBP 349,000.

2.2% of share capital

The transactions leave Case with 674,000 ordinary shares, or about 2.2% of Clarkson's outstanding shares, compared to 1.96% disclosed in May.

His combined ordinary shares, restricted shares and options amount to a combined 3.1% of share capital.