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Midway through last month, Plus500 announced that three of the group’s principals intended to offload 1.5mn shares, equivalent to 2.14 per cent of the online trading platform’s issued share capital.
Chief executive David Zruia disposed of 450,792 shares, while the group’s chief financial officer Elad Even-Chen sold 940,000 shares — a deal of rare magnitude. Nir Zatz, the group’s chief marketing officer, accounted for the remainder. The deals were struck at £44.78 a share, and undertaken for tax planning purposes, with Goldman Sachs International named as the counterparty. It was the first time that the insiders had sold any shares in the group since it floated in 2013, and they also agreed to a 365-day lock-in period on further share sales.
Despite Plus500’s strategic candour in the run-up to the transactions, the group’s share price still fell by 15 per cent through to the beginning of March, admittedly from a near all-time high. It’s also the case that Plus500 has awarded significant amounts of share-based compensation down through the years.
A week before the sales, Zruia said that “2025 marked a year of accelerated strategic progress for Plus500” and the board expects that performance this year would outstrip company-compiled consensus based on then-current market trends.