Molloy exercises options

 

The chief executive of Bank of Ireland, Mr Pat Molloy - who retires at the end of this year - has realised over £500,000 after exercising share options and then selling some of the shares into the market at the current price. In a filing with the Stock Exchange, Bank of Ireland has disclosed that Mr Molloy exercised options over 130,000 shares at a price of 226.25p and over 68,934 shares at 135.83p each. The cost of exercising these options was just under £388,000.But in a simultaneous transaction, Mr Molloy sold 75,000 shares in the market at 895p each and a further 250,00 shares at 892p, realising a total of £894,250. The cash gain on the transactions was £506,000, while Mr Molloy is also sitting on a paper gain of at least £650,000 on the shares he bought at the option price and retained.