Full-time staff at sportswear retailer Sports Direct have
cashed in a £112 million bonus after shares available through the retailer’s
incentive scheme vested. According to a report in the Daily Telegraph, the
Sports Direct Employee Benefit Trust had placed 17 million shares at 660 pence
after staff decided to cash in their bonus award immediately. The 17 million
shares represent the vast majority of the 21 million awarded to 2,000 staff as
part of a 2009 bonus scheme, meaning that an employee earning a £20,000 salary
will receive a pay-out worth £79,000 on
the basis they received 12,000 shares.
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