LONDON, March 5, 2026, 08:44 GMT
- CEO Duncan Wanblad unloaded 24,074 shares at 36.384 pounds each, selling to cover taxes tied to his vested incentive awards.
- Anglo reported its 2023 long-term incentive plan paid out at 21.2% of the possible maximum. Most of those shares are subject to a two-year lock-up period.
- The miner revealed this as it moves forward with its proposed deal with Canada’s Teck, while also working to stabilize its executive pay plan.
Anglo American plc reported that CEO Duncan Wanblad, along with other senior managers required to disclose share trades, sold stock at 36.384 pounds each—these disposals were made to pay tax bills triggered by incentive awards vesting. According to the company, its 2023 long-term incentive plan (LTIP) delivered a payout at 21.2% of the maximum possible award. Investegate
Executive compensation is back under the microscope at the company, which has already been forced to adjust course. In December, after facing pushback from investors, Anglo scrapped its plan to alter bonus awards linked to the Teck merger, according to Reuters. Reuters
Europe’s regulatory barriers to the Teck deal are fading. The European Commission gave the green light on Jan. 29, opting not to challenge the transaction under EU merger law. Over on the foreign-subsidies case register, a separate review is marked for a Feb. 3 decision. EUR-Lex
Wanblad’s 2023 LTIP award vested 32,715 shares out of the 154,320 granted, according to the filing. He sold 15,409 shares for tax, holding onto the remaining 17,306. For his 2023 and 2024 bonus share plans, another 18,396 shares vested, with 8,665 sold to pay taxes.
Anglo flagged more tax-driven stock sales among top executives, linked to its bonus share and non-cyclical share awards plans. The company noted that most net shares held back by senior management now face an additional two-year lockup, limiting their ability to sell or transfer them.
Anglo flagged tweaks to its equity award structure, saying under the proposed 2026 remuneration policy, grants from 2027 would shift to a single three-year vesting point.
The filing comes amid a sweeping overhaul that’s been in motion for months. “We are committed to seeing our portfolio transformation through to its conclusion,” Wanblad said back in a February production report. Anglo American
Anglo posted a $3.7 billion annual loss, hit by another writedown tied to its De Beers diamonds unit. “There is at the moment a plentiful supply of rough diamonds in the market,” Wanblad told reporters. Reuters
Bigger miners are jostling for copper assets, ramping up deal activity and swaps to gain ground in the metal. BHP has already made a play for Anglo, chasing additional copper, and Glencore and Rio Tinto called off renewed merger talks back in February. Reuters
The Teck merger still hangs in the balance. Regulatory approvals in several jurisdictions and a handful of standard conditions are still outstanding, according to the companies. Any holdup on those fronts would drag out the overhaul of Anglo’s portfolio. Teck Resources Limited
Anglo’s investor calendar lists April 28 as the date for its next quarterly production report. Anglo American
