The executive vice president and chief business officer of biopharmaceutical company Onyx Pharmaceuticals Inc. exercised options for and then sold 12,500 shares of common stock, according to a Securities and Exchange Commission filing Wednesday.
In a Form 4 filed with the SEC, Laura Brege reported she exercised options for the shares Tuesday for $15.44 apiece and then sold all of them the same day for $33.22 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.
Onyx is based in Emeryville, Calif.
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