Chief executive Dave Forsey and finance director Bob Mellors each made around £6.4 million after picking up a million cut-price shares apiece before selling most of them at a large profit, on top of basic salaries of £150,000.
It comes months after the sportswear empire, controlled by Newcastle United owner Mike Ashley, was attacked over the disclosure that thousands of its workers were employed on zero-hours contracts.
The sell-off saw the value of the stock, recently promoted to the FTSE 100, fall 2%.
Mr Forsey and Mr Mellors each picked up a million shares at their nominal value of 10p each, before each selling 950,000 at 680p. It leaves each man with a stake of just 50,000 shares in the company.
Latest annual results for Sports Direct showed the group reporting a 40% leap in pre-tax profits to £207.2 million for the year to April 28 as 3,000 staff were lined up for lucrative share bonuses.
It meant that an employee on a salary of £20,000 a year in 2009 would pick up 12,000 shares, worth more than £68,000.
Latest trading figures from Sports Direct showed it posted sales of £613.3 million for the 13 weeks to the end of July, a rise of 18.2% year-on-year, resulting in a 23.2% jump in trading profits to £260.1 million.