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Digital River CEO Exercises Options

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

NEW YORK (AP) -- The chief executive of e-commerce software company Digital River Inc. exercised options for 30,000 shares of common stock under a prearranged trading plan, according to Securities and Exchange Commission filings.

In Form 4s filed with the SEC Friday, Joel A. Ronning reported he exercised the options Wednesday for $5.13 to $35.11 apiece and then sold 56,635 of them on the same day for $47.51 to $49.08 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.

Digital River is based in Eden Prairie, Minn.

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