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Foster Wheeler EVP Exercises Options

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

NEW YORK (AP) -- An executive vice president at Foster Wheeler Ltd., an engineering and construction services firm, exercised options for 13,041 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Thursday.

In a Form 4 filed with the SEC, Peter Ganz reported he exercised options for the shares Thursday for $29.95 apiece and then sold the same number of them the same day for $141.03 to $146.05 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.

Foster Wheeler is based in Clinton, N.J.

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