L-3 Communications SVP Exercises Options

In a Form 4 filed Tuesday with the SEC, Robert W. Drewes reported he exercised the options Friday for $59.73 apiece and then sold all 13,333 shares on the same day for $99 apiece.

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.

L-3 Communications is based in New York.