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Bally Technologies SVP exercises options

By Associated Press
June 2, 2008 | Comments (0)

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The senior vice president and secretary of casino equipment maker Bally Technologies Inc. exercised options for 27,084 shares of common stock, according to a filing with the Securities and Exchange Commission.

In a Form 4 filed with the SEC Friday, Mark Lerner reported exercising the options on Thursday and Friday for $17.35 to $21.53 apiece, then selling all 27,084 shares on the same days for $44 to $45 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.

Bally Technologies is based in Las Vegas.

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