A director of Lufkin Industries Inc., which makes equipment used in oil production and other industries, exercised options for 5,000 shares of common stock, according to a Securities and Exchange Commission filing Monday.
In a Form 4 filed with the SEC, Douglas V. Smith reported exercising the options on Monday for $20.62 apiece and selling the same number of shares on the same day for $77.50 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.
Lufkin Industries is based in Lufkin, Texas.
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