Foundation Coal Vice President Greg A. Walker Exercies Options for 20,875 Shares
A vice president of Foundation Coal Holdings Inc. exercised options for 20,875 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Thursday.
In a Form 4 filed with the SEC, Greg A. Walker reported he exercised options for the shares Thursday for $4.87 apiece, and then sold all of them the same day for $40 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.
Foundation Coal is based in Linthicum, Md.
Information from: AP via biz.yahoo.com
