Tim Mason (left), Tesco deputy CEO, corporate director and CEO of Fresh & Easy Neighborhood Market in the U.S., has sold 141,593 shares of Tesco plc stock at a per-share price of £402.2825, pocketing nearly $1 million. The precise amount is about $927.315 (£569.604). The pound-to-dollar conversion above is based on today's rate.
Mason, who prior to coming to the U.S. in 2006-2007 to start up Fresh & Easy as its CEO was corporate marketing chief for United Kingdom-based Tesco, sold the shares on February 25.
Tesco published a regulatory filing reporting the sale yesterday. Public companies in the UK are required by law to report when directors sell shares of company stock, as is the case in the U.S.
Tesco plc stock (ordinary shares) closed today at £404.20 share. The shares are currently (UK time) trading at £400.55, down from yesterday's close.
There's no word on what Tim Mason plans to do with the nearly pre-tax $1 million he's trousered from the stock sale. But if you see the CEO pull into his parking space at Fresh & Easy's corporate office in El Segundo, California in the coming days, driving a brand new automobile with roof-mounted and bumper-mounted racks, and on those racks are (1) a brand new racing-style bicycle and (2) a new custom surfboard, along with a new set of state-of-the-art golf clubs inside the auto, do drop us a line and let us know.
April 23, 2009: Tesco PLC Director and Fresh & Easy USA CEO Tim Mason Sells Over 631,381 Tesco Shares Yesterday For $3.2 Million Payday
July 21, 2010: Fresh & Easy Neighborhood Market CEO Tim Mason Leads All Directors in Tesco Stock Share Incentive Plan Payouts
June 23, 2010: Tesco Fresh & Easy Neighborhood Market CEO Tim Mason Gets Big Stock Award Featuring a Singular Twist
June 4, 2010: Every Little (Bit) Helps: Tesco Fresh & Easy Neighborhood Market CEO Mason Paid $6.188 Million For 2009
July 2, 2010: Tesco's Director Remuneration Report Approved at Today's AGM; But 47% of Shareholders Voice Opposition to Director Pay Packages
July 5, 2010: Verbal Fireworks at Tesco's 2010 Sharholders' Meeting in London
June 8, 2010: Tesco CEO Terry Leahy Retiring; Philip Clarke New CEO; Tim Mason Named Deputy CEO But Will Remain Fresh & Easy Neighborhood Market Chief in U.S.
February 16, 2011: Fresh & Easy Neighborhood Market CEO Tim Mason Gets A Major Golf Tournament to Call His Own
February 24, 2011: Dormant No More: Fresh & Easy Neighborhood Market CEO Tim Mason is Now Tweeting on Twitter
February 25, 2011: A Parting Gift: Retiring Tesco CEO Terry Leahy Exercises Options and Sells Nearly Three Million Shares of Company Stock
February 23, 2011: Incoming Tesco CEO Philip Clarke Visits America - And Fresh & Easy Neighborhood Market
January 27, 2011: Incoming Tesco CEO Philip Clarke Names Expanded Corporate Executive Committee