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Inmarsat CEO cashes in $1m of stock as share price climbs

Inmarsat CEO Rupert Pearce has sold over $1 million worth of Inmarsat stock since March 20, from shares vested to him under the company’s Bonus Share Plan (BSP) and Performance Share Plan (PSP).
{mprestriction ids="2"}Inmarsat stock is currently at an all-time high since its IPO in 2005, having risen from around £7 per share in November, to over £9 a share in March.  
 
On March 20, Mr Pearce received 80,647 shares, as awards made under the BSP from 2011, 2012 and 2013 matured. He sold 38,000 of these at £9.3413 per share (£353,943.40), retaining 42,647 shares.
 
On March 31, Mr Pearce received an additional 83,483 shares under a PSP award made in 2012. The award, based on company performance over three years, amounted to just under 55 per cent of the maximum amount Mr Pearce could’ve received under the scheme.​
 
He sold 39,336 of these at £9.4104 per share (£370,167.494), retaining 44,147 shares. The total value of the shares sold by Mr Pearce on March 20 and March 31 was £724,110.894, or approximately $1,070,663. His remaining holding in Inmarsat is now 747,046 shares.{/mprestriction}
 

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