Rightmove’s financial chief has cashed in shares worth just shy of £126,000 just a few days after the company revealed that its revenues and profits have continued to climb.

The portal has revealed that Ruaridh Hook (pictured) its Chief Financial Officer, exercised options arising from a Deferred Share Bonus Plan Award granted 10 March 2023 and a Restricted Share Plan award granted on 20 December 2023.

Hook, who is a member of London’s ‘Tatler set’ and has featured in the magazine, became its CFO following an internal promotion as part of a C-Suite reshuffle in August last year, having previously been its Head of Commercial Finance and Financial Planning & Analysis.

Income tax

But despite his salary of £545,000, finances can still be tight at the top and Rightmove says proceeds from shares sold – at £7.84 each – have been realised to “satisfy income tax and national insurance liabilities”.

Following these transactions, Hook still holds a beneficial shareholding in Rightmove of 12,282 shares.
Hook will also have more share options to exercise in the future. This March CEO Johan Svanstrom was given 183,759 free ‘performance shares’ or options while Hook gained 97,440.

Both will have to wait until March 2030 before they can sell their Rightmove shares, and will have been set share price and dividend growth targets.

Hook is paid relatively ‘modestly’, it remuneration committee revealed within its most recent annual report, given it’s his first job as a CFO.

This includes his £375,000 base salary, a maximum annual bonus opportunity of 175% of salary and an annual Long Term Incentive Plan award of 180%. He is also getting a 9% pay rise this January.