RE: The Bank, The Director reward.25 Sep 2020 20:00
Sticking to just facts. All we can go on, is he sold shares early and he was under directors code re share dealing.
Taken from an article on the code..
These rules can be broken only where the person wanting to deal does not in fact have any inside information and can show they are in severe financial difficulty or there are other exceptional circumstances (such as a legal requirement to sell). In that case, the FSA has to be consulted before permission is given.
Requests for clearance and the consent or refusal should be in writing, and records should always be kept. Having been given clearance, you should deal as soon as possible and, in any event, within two business days. Miss that time limit, and you have to re-apply.
1.FSA had to approve it.
2. Can be because of .. severe financial difficulty or there are other exceptional circumstances (such as a legal requirement to sell).
So the only facts are, severe financial difficulty or other exceptional circumstances. Speculate all we want, to me, that sounds like it was not DW's plan to sell now. Something is going well for him. Be it finance, health or a legal requirement to sell what ever that may be.