BAE Systems PLC has announced that Edward Gelsthorpe, the Group General Counsel, has exercised a significant number of performance shares and options under the BAE Systems Long Term Incentive Plan (LTIP). On April 24, 2024, Gelsthorpe exercised 21,631 performance shares and subsequently sold 15,917 shares, including those sold to satisfy tax liabilities. The shares were acquired at a price of £0 and sold at a price of £13.153325, with 5,714 shares retained.
Additionally, on the same date, Gelsthorpe exercised 22,208 options under the LTIP and sold 10,127 shares, including those sold to satisfy tax liabilities. The shares were acquired at a price of £4.999 and sold at a price of £13.153325, with 3,640 shares retained to settle the cost of exercise.
Both transactions were conducted on the XLON - London Stock Exchange. The aggregated information for the transactions shows that the exercise of shares and options amounted to 43,839 in total, with a total price of £111,017.79 for the options and £0 for the performance shares. The shares retained to settle the cost of exercise amounted to 12,081, with a total price of £111,027.22. The shares sold, including those to satisfy tax liabilities, amounted to 25,044, with a total price of £342,565.19.
These transactions indicate significant activity by a key figure within BAE Systems PLC and provide insight into the company's LTIP and the actions of its management team.