LONDON — Christopher Bailey, chief executive and chief creative officer at Burberry, sold 5.2 million pounds, or $8.6 million, worth of his shares in Burberry, according to filings on the London Stock Exchange.
The filing stated that Bailey exercised options to sell 211,904 of the 288,120 shares that were awarded to him in 2011, as part of the Burberry Group plc co-investment plan, and 73,547 of the 100,000 shares that were awarded as part of the Burberry senior executive restricted share plan 2004, granted to Bailey in 2009. The executive also sold 68,667 Burberry shares that he already owned last Wednesday, which will be subject to capital gains tax.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"