The chief financial officer of Stratex Networks Inc., maker of digital microwave radios used in wireless communications, exercised options for 62,116 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Friday.
In a Form 4 filed with the SEC, Carl Thomsen reported he exercised the shares last Wednesday and Thursday for $2.01 apiece and then sold all of them the same days for $4.93 to $5 apiece.
The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material nonpublic information.
Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.
Stratex is based in San Jose, Calif.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment