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American Tower CFO Exercises Options

This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-11-19

NEW YORK (AP) -- The chief financial officer of broadcast and communications tower operator American Tower Corp. exercised options for 79,196 shares of common stock under a prearranged trading plan, according to Securities and Exchange Commission filings.

In Form 4s filed with the SEC Thursday, Bradley E. Singer reported he exercised the options Thursday for $3.60 and $5.91 apiece and then sold all 79,196 of them on the same day for $42.80 to $43.57 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.

American Tower is based in Boston.

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