Adrian Fawcett, chief operating officer of Punch Taverns, has cashed in share options, banking a profit of more than £1.12m. Fawcett paid £359,999 for 116,129 shares at the exercise price of 310p, before selling the stock at the market price of 1276p, generating £1.481m – a profit of £1.121m. Fawcett currently holds 10,384 shares in the company, with another 224,425 shares awaiting maturity.