Morrisons has awarded two tranches of shares to new chief executive Dalton Philips, who took up his role last week.
The shares are to compensate for others forfeited when Philips moved from Canadian grocer Loblaw.
The first award of 319,401 shares vested immediately and Philips sold 131,218 - only the number necessary to cover the income tax and National Insurance contributions liable on the award.
The second award of 120,965 shares will vest in March 2012, unless Philips resigns or his contract is terminated earlier than that.
Neither award is dependent on performance conditions.
Philips takes the helm at Morrisons as Kantar grocery sales data showed it continues to lead the supermarket pack. Broker Jefferies rates Morrisons a buy and estimates it will deliver like-for-like growth of about 3% in 2010/11.