Ryland Group Chairman and CEO Dreier exercises options

By Associated Press April 28, 2008 Comments (0)

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The chairman, president and chief executive of homebuilder Ryland Group Inc. exercised options for 80,000 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing.

In a Form 4 filed with the SEC Friday, R. Chad Dreier reported he exercised the options Friday for $6.38 apiece and then sold all 80,000 of them on the same day for $33.02 apiece.

The stock sale was conducted under a prearranged 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.

Ryland Group is based in Calabasas, Calif.

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