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Automatic Data Processing vice president exercises options

By Associated Press
May 5, 2008 | Comments (0)

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The corporate vice president of outsourcing services company Automatic Data Processing Inc. exercised options for 32,925 shares of common stock, according to a filing with the Securities and Exchange Commission.

In a Form 4 filed with the SEC Friday, S. Michael Martone reported exercising the options on April 3 for $39.89 apiece, then selling all 32,925 shares on the same day for $43.45 apiece.

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. These transactions were reported late due to an administrative error.

Automatic Data Processing is based in Roseland, N.J.

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