Director dealings: ITV, Virgin Money executives sell shares to cover tax bills

ITV chief executive officer Carolyn McCall was at the top of the director sales list on Tuesday, offloading 445,502 shares in the broadcaster at a price of 106.72p each.

The FTSE 100 company said in its regulatory notice that McCall sold the shares to cover income tax and National Insurance liabilities.

Those liabilities arose after McCall exercised nil-cost options over 947,786 shares, which ITV said were granted in March 2019 as part of the buy-out of a long-term incentive plan arrangement, when McCall joined the company.

The transaction netted the chief executive a total of £0.48m to cover her liabilities to the tax man.

Virgin Money UK executive director David Duffy, meanwhile, made similar transactions, vesting nil-consideration shares from the firm’s 2017 and 2018 long-term incentive plan, as well as its 2017 deferred equity plan.

The FTSE 250 bank said Duffy vested 8,786 shares under the 2017 long-term incentive plan and 137,090 shares under the 2018 plan, followed by 13,273 shares under the 2017 deferred equity plan.

To cover his tax liabilities, Duffy then sold three tranches of shares at 164.35p each.

The first tranche saw him sell 4,144 shares for £6,810.66, with the second seeing 64,659 shares sold for £0.11m, and the third seeing 6,261 shares sold for £10.289.95.

At 1608 GMT, shares in ITV were up 1.55% at 108.35p, while those in Virgin Money UK were 3.96% firmer at 170.5p.

Top Director Buys

Diploma (DPLM)
Director name: Gibbes,Barbara
Amount purchased: 3,433 @ 3,256.00p
Value: £111,778.48

Aston Martin Lagonda Global Holdings (AML)
Director name: Moers,Tobias
Amount purchased: 4,500 @ 1,223.00p
Value: £55,035.00

Fireangel Safety Technology Group (FA.)
Director name: Conoley,John
Amount purchased: 300,000 @ 13.95p
Value: £41,850.00

Hargreaves Services (HSP)
Director name: Jones,Christopher
Amount purchased: 9,000 @ 409.00p
Value: £36,810.00

Hargreaves Services (HSP)
Director name: Jones,Christopher
Amount purchased: 7,459 @ 406.00p
Value: £30,283.54

Johnson Matthey (JMAT)
Director name: Mottershead,Chris
Amount purchased: 1,000 @ 1,965.00p
Value: £19,650.00

Uls Technology (ULS)
Director name: Scott,Oliver Rupert Andrew
Amount purchased: 22,037 @ 72.22p
Value: £15,914.75

Anglo American (AAL)
Director name: Chambers,Stuart J
Amount purchased: 481 @ 2,897.00p
Value: £13,934.57

Oncimmune Holdings (ONC)
Director name: Hill,Adam
Amount purchased: 5,988 @ 167.00p
Value: £9,999.96

Anglo American (AAL)
Director name: Nyembezi,Nonkululeko
Amount purchased: 211 @ 2,897.00p
Value: £6,112.67

Greenroc Mining (GROC)
Director name: Rachovides,Mark
Amount purchased: 80,000 @ 6.30p
Value: £5,040.00

Uls Technology (ULS)
Director name: Scott,Oliver Rupert Andrew
Amount purchased: 3,000 @ 72.60p
Value: £2,178.00

Ecofin Global Utilities And Infrastructure Trust (EGL)
Director name: Nicklin ,Susannah
Amount purchased: 768 @ 192.16p
Value: £1,475.76

Pennon Group (PNN)
Director name: Boote,Paul
Amount purchased: 13 @ 1,191.87p
Value: £154.94

Pennon Group (PNN)
Director name: Davy ,Susan
Amount purchased: 13 @ 1,191.87p
Value: £154.94

Wetherspoon (j.d.) (JDW)
Director name: Hutson,John
Amount purchased: 18 @ 831.95p
Value: £149.75

Wetherspoon (j.d.) (JDW)
Director name: Whitley ,Ben
Amount purchased: 18 @ 831.95p
Value: £149.75

Top Director Sells

Itv (ITV)
Director name: McCall,Carolyn
Amount sold: 445,502 @ 106.70p
Value: £475,350.65

Avon Protection (AVON)
Director name: McDonald,Paul
Amount sold: 9,269 @ 1,157.00p
Value: £107,242.33

Virgin Money Uk (VMUK)
Director name: Duffy,David
Amount sold: 64,659 @ 164.35p
Value: £106,267.06

Avon Protection (AVON)
Director name: Keveth,Nick
Amount sold: 6,417 @ 1,157.00p
Value: £74,244.69

Wood Group (john) (WG.)
Director name: Kemp,David
Amount sold: 13,437 @ 182.00p
Value: £24,455.34

Virgin Money Uk (VMUK)
Director name: Duffy,David
Amount sold: 6,261 @ 164.35p
Value: £10,289.95

Virgin Money Uk (VMUK)
Director name: Duffy,David
Amount sold: 4,144 @ 164.35p
Value: £6,810.66

Sourcebio International (SBI)
Director name: Mills,Christopher
Amount sold: 2,369 @ 150.00p
Value: £3,553.50

Capital & Regional (CAL)
Director name: Hutchings,Lawrence
Amount sold: 2,649 @ 58.00p
Value: £1,536.42

Capital & Regional (CAL)
Director name: Wetherly,Stuart
Amount sold: 2,487 @ 58.00p
Value: £1,442.46