Rio Tinto iron ore boss and executive director Sam Walsh sold a big parcel of shares held by his family trust in order to exercise employee share options in the mining giant. Mr Walsh sold 20,000 Rio shares for $73.57 each on market last week, reaping just over $1.47 million, and subsequently exercised 113,233 options, before selling the resulting shares on market. On completion of the transaction, Mr Walsh retained some 46,950 Rio shares worth over $3.74 million. He also retains another 203,000 options granted under the Rio share plan and 167,402 conditional share awards granted under Rio’s executive performance scheme. Mr Walsh is head of Rio’s Australian operations.
© Business News 2017. You may share content using the tools provided but do not copy and redistribute.