Jon Gardar Helgason, Jon Magnus Kristjansson, Hjorleifur Asgeirsson, Magni Thor Geirsson, and Valdimar Oskarsson sold a total of 14.5 million shares, Icelandic Group said in an announcement on the OMX stock exchange.
All directors excpet for Oskarsson retained some shares in the company.
Icelandic Group is one of Europe's largest seafood firms, but has struggled with profitability the past several years.
