Tommy Hilfiger's Dutch directors enjoy early payday

According to an announcement made by the US Securities

and Exchange commission, the top two Dutch directors at Tommy Hilfiger, CEO Fred Gehring and COO Ludovicus Onnink, exchanged their company shares for a total amount of 10 million dollars and 2 millions dollars respectively.

The pair received these last company shares back in March 2010, when the American clothing brand, Phillips Van Heusen, purchased the fashion company from investor Apax. At the time, Gehring and Onnink exchanged their stakes in Tommy Hilfiger for a respective 1.4 million dollars and 282,000 PVH shares, which then held in the private company Elmira 5.

Since the beginning of May 2011, Gehring has sold PVH shares for roughly 115 million dollars, while Onnink credited another 25 million dollars. Gerhing himself now owns 3,2 million dollars in PVH shares and Onnink 1,2 million dollars. However, the majority of the shares the pair owns are performance shares.