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Seagate Technology COO Exercises Options

This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-10-23

NEW YORK (AP) -- The executive vice president, chief operating officer and president of Seagate Technology, a hard-drive maker, exercised options for 75,000 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Friday.

In a Form 4 filed with the SEC, David A. Wickersham reported he exercised the options on Wednesday for $9.31 apiece and then sold all of them the same day for $27.50 apiece.

He also sold an additional 25,000 shares on Friday for $26.61 to $26.65 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.

Seagate Technology is based in the Cayman Islands.

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