Mermaid Marine non-executive director James Carver took advantage of the offshore support specialist’s significant gains over recent months, offloading a sizeable portion of his shareholding earlier this month.
Mr Carver sold 670,000 ordinary Mermaid shares on-market at an average price of $2.77 per share on December 7.
The sale netted Mr Carver more than $1.85 million, leaving him with a still not insignificant holding of 2.91 million shares worth just over $8 million on the day his trading took place.
The stock, which was trading below $2.40 in June, has since appreciated further to current levels around $2.98, valuing his shares at over $8.68 million.