THERE has been a buying frenzy among the directors and senior executives of Webjet this week, with ASX records revealing ceo John Gucsic has spent almost $7 million on Webjet shares in the last few days.
The purchase, which was funded through a share and option loan agreement provided as part of his employment contract, included 500,000 shares priced at $5.14 – the exercise price of options previously issued – meaning Gucsic made an instant paper profit of about $2 million.
However he’s putting his money where is mouth is, purchasing a further 464,000 shares on market at the current $9.15 share price.
Other Webjet directors to boost their skin in the game include non-executive directors Brad Holman, who bought 4,000 Webjet shares on market, and Shelley Roberts, who purchased 4,500 shares on market.
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Source: traveldaily