Snaitech CEO cashes in Playtech shares worth £641,000
Fabio Schiavolin sanctions disposals over five tranches to add to his December sales, giving him a total return of more than £1.1m
Snaitech CEO Fabio Schiavolin has sold another 86,000 Playtech shares for £641,000 in his second sale in as many months.
The Italian exec sold 86,801 shares across five trades in two days this week on 21 and 22 January to secure £641,321.72.
The first sale on 21 January saw the Snaitech CEO sell 15,580 shares at £7.38 per share, before a further four sales on 22 January.
Those subsequent sales saw Schiavolin dispose of 21,211 shares, followed by 15,000, then 20,000 and another 15,000.
The sales were sanctioned as part of Playtech’s long-term incentive plan dating back to 2012.
In December, the Snaitech boss sold 70,000 shares to pocket £523,896.63 across two tranches, with each share worth £7.49 at the time.
Combining his two share sales, Schiavolin has secured more than £1.1m via Playtech’s long-term incentive plan.
The stock sales also come ahead of Snaitech being acquired by Flutter in a €2.3bn (£1.9bn) deal, which is expected to complete in Q2 2025.
As part of that transaction, Schiavolin and Snaitech’s senior management team are in line for an aggregate cash bonus of €34m.
The bonus, which was contested by Playtech shareholders, will also result in the London-listed firm’s top management securing their own maximum aggregate bonus pot of €100m.
Within that nine-figure pool, Playtech CEO Mor Weizer could receive up to €50m alone, and CFO Chris McGinnis could take €12m.
Playtech shareholders Raper Capital and Palm Harbour Capital had railed against the package proposal, but shareholders ultimately backed the move in December.