Last week, the Paddy Power Betfair CEO Breon Corcoran, filed papers with the London Stock Exchange which indicated that he’d sold 43,500 of his 183,500 shares in Paddy Power Betfair. With each share priced at £95.72, Corcoran netted a whopping £4.1m from the sale.
If news of Corcoran’s massive payday makes you feel self-conscious about how much time you spent counting your coppers last night, then you’ll likely take solace in the fact that had Corcoran sold his shares just a week earlier when each share was priced at around £100 each, he’d have netted an extra £200k or so.
Corcoran’s windfall came exactly a week after the newly hitched Paddy Power and Betfair entities released their first joint earnings report, which showed that both companies are enjoying strong growth.
Meanwhile, William Hill CEO James Henderson sold 11,607 shares of his considerable Hills holdings. In comparison, Hills’ shares traded far lower, at £3.88 a piece, bringing Henderson’s haul to just £45k. But with 115k more shares in his possession, Henderson still has the chance to enjoy greater share prices in future.