China Mobile's former executive vice-president Li Ping may have made a hefty profit of HK$147.06 million by exercising a total of 3.8 million share options last year, according to its annual report. During last year, Mr Li exercised his entire 3.8 million China Mobile share options worth a total of HK$76.34 million before he resigned from the company in August. However, at the time when he exercised the shares they were worth HK$223.4 million. If Mr Li disposed of those shares in the period soon after he exercised them, he could have made a profit of HK$147.06 million. Last year, a total of 3.974 million of China Mobile's share options were exercised by its staff for a total value of HK$84 million, mainly from Mr Li. China Mobile also disclosed in its annual report that a total of 31.59 million share options were granted to its directors and staff in April last year at an exercise price of HK$45.04 a share. Chairman Wang Xiaochu has a total of 4.1 million share options at an exercise price ranging between HK$33.91 and HK$45.04, but none were exercised during the year.
