The chief financial officer of Verigy Ltd., which makes test equipment for semiconductor makers, exercised options for and sold 8,313 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Wednesday.
In a Form 4 filed with the SEC, Robert Nikl reported he exercised options for the shares Friday for $14.75 apiece and then sold all of them on the same day for $25 each.
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.
Verigy is based in Singapore.
Terms & Conditions
RSS Headlines
Fool UK