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Ariba's chief commercial officer exercises options

By Associated Press
May 20, 2008 | Comments (0)

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The chief commercial officer of Ariba Inc., which makes spending management software, exercised options for 17,000 shares and then sold 25,184 shares of common stock, under a prearranged trading plan, according to a Securities and Exchange Commission filing Monday.

In a Form 4 filed with the SEC, Kent Parker reported he exercised options for $7.39 apiece Monday and sold the shares for $13.40 to $14 apiece the same day. He also surrendered 3,482 shares of stock Saturday at $12.72 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 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.

Ariba is based in Sunnyvale, Calif.

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