السبت, مارس 9th 2024
A significant move in the financial world as a UBS top executive capitalises on the surging share prices, setting a record sale not seen since May 2022.
In view of the soaring UBS share price, a top manager of the big bank has cashed in: an executive member of the Board of Directors or a member of the Executive Board sold 182,372 UBS shares on Thursday, pocketing CHF 4.76 million.
This is the largest sale of shares by a top UBS executive since May 23, 2022, when shares were sold for 4.87 million, according to information from the Swiss stock exchange regulator SER on Friday.
The current sale took place at a share price of 26.12 francs. If the top manager had waited another day, he would have made even more money. Because on (today’s) Friday, the UBS share price rose by a further 4 percent to 27.24 francs.
This is the highest price since May 2008, when the financial crisis hit. The stock benefited from an upgrade by the US bank Morgan Stanley.
There are not many managers from the boardroom who own so many shares. Only Chairman Colm Kelleher and his Vice Chairman Lukas Gähwiler have enough shares for a transaction of this magnitude. And from the Executive Board, only Edmund Koh, Sabine Keller-Busse and Robert Karofsky could be considered.
However, it should be noted that the information is from the annual report from the end of 2022. Since then, there may have been considerable shifts in the shareholdings of UBS managers.
For example, the annual report showed high holdings of shares (up to 1 million shares) for most MB members, which had not yet been transferred at the time. The new 2023 annual report with up-to-date information on the shareholdings of the top management is due to be published on March 28.
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