Correct - I queried this with PL a long time ago as I couldn't make sense of the listings above. "That was how the options were exercised - placed stock to instos to fund exercise (eg cash into range)- with the difference kept by director - stock holdings are under each director cv"
Not sure that is quite the case, but think most of the ones they hold are via options if i remember correctly - some of the sells they made were in order to fund the purchase of the new option shares. Not sure how much of their own money they have actually put in though - would be interesting to know. On one of the shares I've been in and out of recently the CEO has a mere £1.6 billion in there himself :) For examples on AIM, look at the likes of PPC - but there are also plenty of others where the BOD hold very few (BLVN being one).
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