Hang Seng Bank chairman David Eldon made a GBP284,911 (about HK$3.5 million) profit by exercising his stock options to acquire the shares of HSBC Holdings last April, according to Hang Seng's annual report. Hang Seng chief executive Vincent Cheng Hoi-chuen made GBP107,351 by exercising options on two occasions last December to buy shares in parent HSBC. Simon Penney, a director of Hang Seng Bank and a chief financial officer of Hongkong and Shanghai Banking Corp, made GBP17,951 by exercising the options last August. The three did not exercise their entire allocation and still hold stock options for HSBC, according to the report. The report revealed that the highest paid director of the bank received between $7 million and $7.5 million.