Foundation Coal Holdings SVP James A. Olsen Exercises Options for 2,100 Sharesadmin
The senior vice president and chief information officer of coal producer Foundation Coal Holdings Inc. exercised options for 2,100 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing.
In a Form 4 filed with the SEC Tuesday, James A. Olsen reported he exercised the options Monday for $4.87 apiece and then sold all 2,100 of them on the same day for $58 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 non-public 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.
Foundation Coal is based in Linthicum Heights, Md.