Ashtead execs sell off awards after share-price surge

Equipment rental business Ashtead has seen a number of board-members sell off their share awards given to them as part of their performance share plan (PSP) in June 2010.Awards given to executives under the PSP vest on the third anniversary of grant subject to continued employment and the achievement of certain performance targets, the company explained in a statement on Tuesday.Since the start of June 2010, Ashtead's share price has surged by well over 500%, having gained over 50% so far in 2013.Chief Executive Officer (CEO) Geoff Drabble, who joined the company in 2007, received 694,416 shares under the 2010 PSP and subsequently sold all of these shares at a price of 664.5p, making himself a tidy sum of £4.61m. Drabble still has over 1.3m shares left in the company, equal to a 0.26% stake.Brendan Horgan, the CEO of Ashtead's American division Sunbelt Rentals, sold off 171,017 shares vested under the 2010 PSP at the same price, earning himself £1.11m. He still owns a 0.09% interest.Finance Director Suzanne Wood received 125,757 shares under the 2010 PSP and sold them all for £0.84m, leaving her with a 0.04% stake.Meanwhile, Sat Dhaiwal, the CEO of the UK division A-Plant, was awarded 223,350 shares as part of the 2010 PSP and sold 104,975 for £0.68m to pay off taxes. He retained 118,375, taking his complete holding to 0.07%.The transactions came on the same day that each of the executives were granted another handful of awards under the 2013 PSP.Top Director BuysInvestec (INVP) Director name: Mr Bernard KantorAmount purchased: 100,000 @ 422.46p Value: £422,460Gable Holdings Inc. (GAH) Director name: Mr William DewsallAmount purchased: 217,600 @ 45.50p Value: £99,008Camco Clean Energy (CCE) Director name: Mr Scott J McGregorAmount purchased: 2,500,000 @ 1.60p Value: £40,000Immunodiagnostic Systems Holdings (IDH) Director name: Dr Patrik Olof DahlenAmount purchased: 5,719 @ 450.00p Value: £25,736InternetQ (INTQ) Director name: Mr Iain B JohnstonAmount purchased: 4,000 @ 306.22p Value: £12,249Pan European Terminals (PAN) Director name: Mr Simon L EscottAmount purchased: 50,000 @ 20.00p Value: £10,000Top Director SellsAshtead Group (AHT) Director name: Mr Geoffrey DrabbleAmount sold: 694,416 @ 664.50p Value: £4,614,394Ashtead Group (AHT) Director name: Mr Brendan HorganAmount sold: 171,017 @ 664.50p Value: £1,136,408Ashtead Group (AHT) Director name: Ms Suzanne Wood Amount sold: 125,757 @ 664.50p Value: £835,655