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SunPower President Exercises Options

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

NEW YORK (AP) -- The president and chief technology officer of solar power company SunPower Corp. exercised options for 7,000 shares of common stock, according to a Securities and Exchange Commission filing.

In a Form 4 filed with the SEC Thursday, Richard M. Swanson reported he exercised the options on Tuesday for $3.30 apiece, then sold all 7,000 shares on the same day for $117 to $117.68 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.

SunPower is based in San Jose, Calif.

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