CEO Morning Brief

DBS CEO Sells More Shares, Pockets Proceeds of $13.8 Million Thus Far This Month

Publish date: Sat, 18 May 2024, 10:50 AM
TheEdge CEO Morning Brief
Photo: Samuel Isaac Chua

DBS CEO Piyush Gupta, having recently helped build the bank's market value to over $100 billion, has continued trimming his own stake in the bank.

The open market selling of DBS shares by Gupta since the beginning of this month has given him proceeds of more than $13.8 million.

Gains from these shares exceeded his total pay for FY2023 of $11.2 million, which was a cut of 27% from the preceding year.

On May 15, he sold 50,000 shares at an average of $35.4262 each. The following day, he sold another 75,000 shares at $35.62 each, the bank's filing to the exchange shows.

As indicated by earlier filings, he sold 150,000 shares at $35.4 each on May 10.

On May 6, he sold 20,000 shares at $35.78 and on May 7, he sold another 130,000 shares at $35.90.

He started this recent round of selling on May 3, disposing 75,000 shares at $35.7443.

As at the end of May 16, he is left with 2,290,053 shares, worth some $81.75 million.

DBS shares gained 18% year to date. It became the first Singapore company to command a market value of more than $100 billion on May 2 after reporting yet another record quarter.

Source: TheEdge - 18 May 2024

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