BAE Systems PLC Director Exercises Stock Options and Sells Shares
Gabrielle Costigan, Group Managing Director of Business Development at BAE Systems PLC, has exercised a significant number of stock options and subsequently sold shares to satisfy tax liabilities. On August 7, 2024, Costigan exercised 41,678 options under the BAE Systems Long Term Incentive Plan (LTIP) and sold 25,945 shares. Additionally, she exercised 66,288 options and sold 40,502 shares on the same day. Furthermore, Costigan exercised 66,066 performance shares and sold the same number of shares, including those sold to satisfy tax liabilities. Lastly, she exercised 97,740 restricted shares and sold the same number of shares.
The transactions were conducted on the XLON - London Stock Exchange. The prices for the acquisition of shares on exercise of share options varied, with the sale prices for the shares, including those sold to satisfy tax liabilities, being £12.8510 and £12.8629 per share. The aggregated information for the transactions indicates the total volume and price for each type of transaction.
These transactions reflect the utilization of the company's LTIP by a key executive. The exercise of stock options and subsequent sale of shares to cover tax liabilities is a common practice among executives and is often seen as a way to realize the value of their stock-based compensation.
These transactions by Gabrielle Costigan provide insight into the company's executive compensation structure and the utilization of stock-based incentives. It also demonstrates the confidence and commitment of key executives like Costigan in the company's long-term performance and growth.