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SPSS chairman and CEO exercises options

By Associated Press
May 21, 2008 | Comments (0)

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The chairman, president and chief executive of analytical software company SPSS Inc. exercised options for 5,000 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 Tuesday, Jack Noonan reported he exercised the options Tuesday for $20.50 apiece and then sold all 5,000 of them on the same day for $37.78 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 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.

SPSS is based in Chicago.

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