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Parker Hannifin CFO Exercises Options

This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-09-03

NEW YORK (AP) -- The chief financial officer of Parker Hannifin Corp., which makes motion control systems for the industrial and aerospace markets, exercised options for 29,198 shares of common stock, according to a Securities and Exchange Commission filing.

In Form 4s filed with the SEC Tuesday, Timothy K. Pistell reported he exercised the options Monday for $47.29 to $54.39 apiece and then sold 5,000 shares the same day for $106.31 to $108.52 apiece. Pistell also surrendered 11,957 shares back to the company for $105.16 apiece.

Insiders can surrender shares as a way to cover either taxes or the cost of exercising options.

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.

Parker Hannifin is based in Cleveland.

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