The chairman and chief executive of Synopsys Inc., which makes software for designing semiconductors, exercised options for 110,000 shares, according to filings with the Securities and Exchange Commission.
In two Form 4s filed with the SEC Thursday, Aart de Geus reported exercising the options on Wednesday and Thursday for $21.25 apiece, then selling all 110,000 shares on the same days for $25.90 apiece.
The transactions were 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.
Synopsys is based in Mountain View, Calif.
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