Log In

Reset Password
BERMUDA | RSS PODCAST

Aspen CEO sells 26,000 shares

By Jonathan Kent

Aspen Insurance Holdings Ltd chief executive officer Chris O'Kane has this month sold more than 26,000 shares — worth around $1.15 million — of the company he runs.

Mr O'Kane exercised options to buy the shares in the Bermuda-based re/insurer and then sold them immediately at a profit of more than $480,000.

The transactions took place on two separate days, according to insider trade records on the Nasdaq Stock Exchange website.

Last Friday, Mr O'Kane exercised options entitling him to buy 23,603 shares at $24.44 each. He sold them on the same day for an average of $42.92, for a total of $1,013,040, giving him a profit of $436,182.

This followed a similar trade 11 days earlier, on December 8, in which he executed options to buy 2,574 shares at $27.28 and then sold them for $45, for a total of $115,830. This transaction left him with a profit of $45,611.

Earlier this year, Aspen was the target of a takeover bid by Bermuda rival Endurance Specialty Holdings Ltd, whose unsuccessful offer eventually reached $49.60 per share — well above the selling price Mr O'Kane accepted for his shares this month.

According to Nasdaq, Mr O' Kane's holding in Aspen amounts to 189,311 shares, worth around $8.4 million at yesterday's closing trading price of $44.44.

Aspen CEO Chris O'Kane

You must be Registered or to post comment or to vote.

Published December 24, 2014 at 8:00 am (Updated December 23, 2014 at 6:55 pm)

Aspen CEO sells 26,000 shares

What you
Need to
Know
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon