The chief financial officer of Quality Systems Inc., a medical records and billing software maker, exercised options for 8,750 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Friday.
In a Form 4 filed with the SEC, Paul Holt reported he exercised options for the shares Thursday for $19.34 apiece, and then sold all of them for $33.64 to $33.68 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 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.
Quality Systems is based in Irvine, Calif.
Terms & Conditions
RSS Headlines
Fool UK