DBS chief executive officer Piyush Gupta sold more shares of his bank, following news that he had already trimmed his personal stake during one round of selling.

He has sold 500,000 shares in May 2024.

The Edge Singapore reported that Gupta has been engaged in the open market selling of DBS shares since the beginning of May 2024.

In total, his proceeds from multiple rounds of offloading of DBS shares has exceeded his total pay of of S$11.2 million for the financial year.

His total pay in 2023 was a drop of about S$4.2 million or 27 per cent from his previous pay of S$15.4 million in 2022.

Selling since start of May 2024

Gupta started selling DBS shares he holds on May 3, disposing 75,000 shares at S$35.74 apiece, as reported by The Edge Singapore, citing information gleaned from the bank's filing with the exchange.

On May 6, he sold 20,000 shares at S$35.78 each.

On May 7, he sold another 130,000 shares at S$35.90 each.

On May 10, he sold 150,000 shares at S$35.40 each.

On May 15, he sold 50,000 shares at an average of $35.42 each.

On May 16, he sold another 75,000 shares at S$35.62 each.

As at the end of May 16, he was left with 2,290,053 shares, worth some S$81.75 million.

DBS became the first Singapore company to command a market value of more than S$100 billion on May 2, following the reporting of yet another record quarter.

Its growth over the years has been credited to Gupta.

DBS shares gained 18 per cent year to date.

Top photo via DBS