Will Shu, founder and CEO of Deliveroo, sold £47m-worth of stock in the takeaway delivery app in order to pay a tax bill, says the Daily Mail.
He sold the 16.9 million shares at 278p each, well below the 390p price they were floated on the London Stock Exchange at the end of March. Shu had been handed £62.5m in stock.
Finance chief Adam Miller also sold 1.9m-worth of shares for tax purposes. The share price dropped 9.5% to 262.6p on news of the sale, valuing the company at £4.6bn.
Microsoft’s CEO Satya Nadella has sold just over half his stake in the software giant, says Barron’s.
Nadella offloaded 838,584 shares last month for around $285m in total.
That leaves him with about 831,000, worth $280m.
The company requires Nadella to hold at least 15 times his base salary of $2.5m in Microsoft shares, which amounts to around $38m in stock.
Over the last three years, he has earned a total of $137m, including $93m in stock awards.
According to Bloomberg, Jim Zelter and Scott Kleinman, co-presidents at Apollo Global Management, could be in line for around $430m each as the asset manager overhauls how Barron pays executives.
The pair will no longer receive carried interest and forfeit any that had yet to vest.
Instead, they will each get a million shares annually over five years, with an extra million tied to incentive targets. Around 100 executives will get long-term stock awards, triggering a one-time $1.1bn charge in the fourth quarter.
Kris Paterson is a writer for WhatJobs.com.