The chief executive of apparel retailer Volcom Inc. sold 15,000 shares of stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Friday.
In a Form 4 filed with the SEC, Richard Woolcott reported he sold the shares for $25.87 apiece to $26.62 apiece on Thursday.
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.
Volcom is based in Costa Mesa, Calif.
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