BioMarin Senior VP Sells 34,998 Shares

By Associated Press March 27, 2008 Comments (0)

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The senior vice president, technical operations of biotechnology company BioMarin Pharmaceutical Inc. exercised options for and then sold 34,998 shares of common stock under a prearranged trading plan, according to three Securities and Exchange Commission filings Wednesday.

In Form 4s filed with the SEC, Robert Baffi reported he exercised options for the shares on Tuesday for $7.76 to $12.10 apiece and then sold them all the same day for $35.32 to $36.45 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.

BioMarin is based in Novato, Calif.

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