BusinessCompany NewsTesco FD cashes in options

Tesco FD cashes in options

Higginson earns £900,000 from move, on back of all-time high

Tesco finance director Andrew Higginson cashed in more than £900,000 pounds
worth of shares yesterday as the retailing group’s shares hovered around an all
time high.

The company announced today that Higginson had exercised a total of
523,544 share options at a price of £3.70 yesterday,

The options, with a strike price of just under £2, would have yielded a
gain of £903,113.4.

The company’s shares reached a peak of just over £3.70 recently.

The 48-year-old FD was appointed to the board in November, and is also a
chairman of Tesco Personal Finance and a non-executive director of BSkyB Plc.

According to company reports Higginson took home a total of £2.3m last year.

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