Women’s Wear Daily
04.18.2014
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fashion-scoops

Patriotic Thread... Lagerfeld Gets Around... Belloni Cashes In...

Fashion houses, from Alberta Ferretti to Missoni, help celebrate the 150th birthday of Italy's flag by redesigning it.

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CASHING IN: Antonio Belloni, managing director of LVMH Moët Hennessy Louis Vuitton, recently pocketed 17.6 million euros, or $24.7 million at current exchange rates, by cashing in stock options. Belloni exercised 250,000 options on Oct. 25 for a purchase price of nearly 10.5 million euros ($14.7 million), and sold the entirety the same day for a total of 28.1 million euros ($39.4 million), or 112.35 euros a share, according to filings with the Autorité des Marchés Financiers, France’s market regulator.

Belloni is LVMH’s highest-paid executive and will earn 3.2 million euros ($4.4 million) in salary and 2.2 million euros ($3 million) in performance-related bonuses this year, according to company documents.

Another of the company’s directors, Patrick Houël, exercised 30,000 stock options for 1.7 million euros, or $2.4 million, also on Oct. 25. He sold some 8,300 shares on the same day for a total of nearly 1.1 million euros ($1.5 million).

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