Nasdaq Stock Market Director Sells Stock

By Associated Press
December 10, 2007 | Comments (0)

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A director of Nasdaq Stock Market Inc. sold 219,084 shares of stock, according to Securities and Exchange Commission filings Friday.

In Form 4s filed with the SEC, Glenn Hutchins reported he sold the shares for $43.94 apiece to $44.61 apiece on Thursday. Hutchins also said he converted 266,896 derivative securities at $14.50 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.

Nasdaq is based in New York.

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