VANCOUVER – Telus president and CEO Darren Entwistle has bought up a sizeable chunk of the company’s common shares in what can only be seen as a clear vote of confidence in its future.
Telus said Tuesday that Entwistle, in combination with a family trust, purchased a total of 263,000 Telus common shares on December 17, representing an investment of approximately $10 million. Entwistle purchased 79,000 shares at an average price of $37.76, and the family trust purchased 180,000 shares at an average purchase price of $37.86, continues the news release.
Following this purchase, Entwistle will now personally own 233,865 Telus shares and 392,517 restricted stock units (RSUs), representing a value of $24 million or the equivalent of more than 17 times his annual salary.
