Qantas CEO Alan Joyce, who has seen his company’s shares soar after returning the airline to profit, just had a significant payday after shares he was allocated under short and long term incentives vested.
Under his long term incentive, 85% of the shares allocated came his way. That’s 2,188,750 of them. He also got another 284,769 in restricted shares, according to documents lodged with the ASX.
And then there’s another 274,826 where he has indirect interest, being held for him until they vest or not, depending on the terms of his incentive plan.
At today’s price of $3.785, the two parcels in which he has a direct interest are worth about $8.2 million and $1 million.
The senior executive team at Qantas is a big beneficiary of Qantas returning to profit.
Joyce is now one of Australia’s highest paid CEOs with his pay tripling to nearly $12 million following his leadership of the biggest turnaround in Australian corporate history.
And at least two Qantas directors have been buying Qantas shares.
According to documents lodged with the ASX today, Qantas chairman Leigh Clifford spent about $65,800 buying another 20,000 Qantas shares.
He now holds 311,622 shares via the Clifford Family Trust, a holding valued at $1.179 million at the current trading price.
Another director, Paul Rayner, also bought shares this week in two parcels, one of 20,000 and another of 10,000. He paid $3.435 a share for the first parcel and $3.455 for the second. That’s a total of $103,250.
He now holds 201,622 shares which at today’s price are worth about $763,000.
The Qantas share price has risen more than 170% in 12 months from $1.39 to today $3.78.
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