Businessman Denis O'Brien sold €4.7 million worth of shares in Aer Lingus, cutting his stake in the airline to less than 3 per cent.
The news comes as the company conditionally awarded almost one million shares to chief executive, Christoph Mueller and his recently appointed boardroom colleague Bernard Bot under a bonus programme.
According to a notice formally issued to the market late on Tuesday, Mr O’Brien reduced his holding to 12.75 million shares from 16.81 million on July 31st.
The stocks closing price was €1.33 on the day, valuing the shares sold by Mr O’Brien at €4.7 million. The move reduced his holding to 2.4 per cent. That is less than the 3 per cent stake that obliges investors to inform the market of any transaction.
The airline has conditionally granted Mr Mueller 532,355 shares under a long- term incentive programme; the award is tied to its performance up to the end of 2016. Mr Mueller is leaving in May. It paid him €1.5 million last year and he owns more than 700,000 of its shares.
It conditionally awarded Mr Bot, appointed chief financial officer last month, 401,548, shares under the same scheme.
