Foundation Coal Sr. Vice President Michael R. Peelish exercises options for 9,300 shares
The senior vice president for safety and human resources at coal producer Foundation Coal Holdings Inc. exercised options for 9,300 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Monday.
In a Form 4 filed with the SEC, Michael R. Peelish reported he exercised options for the shares Friday for $8.53 apiece and then sold the same number of them the same day for $60 to $60.12 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 Heights, Md.