UBS execs benefit after reaching U.S. agreement

UBS sign

As many as seven top officials at UBS sold their shares at some of the best prices in years after the bank reached an agreement with U.S. prosecutors ending major legal threats.

Bloomberg News reports that executives or directors sold a total 1.17 million shares to yield $26.3m, according to a regulatory filing. That amounts to $21.46 per share. The single biggest sale, for 428,264 shares, brought about $9.16m.

The filing didn’t identify who cashed in their shares, the first such sales this year. Just two executives had more than 400,000 shares that were vested, or eligible for disposal, at the end of 2014. They were Andrea Orcel, head of UBS’s investment bank and Chi-Won Yoon, president of the Asia Pacific region.

To access the complete Bloomberg News article hit the link below:

UBS Executives Cash in After Stock Soars on U.S. Settlements

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