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Netezza CEO exercises options for 42,000 shares

By Associated Press
June 9, 2008 | Comments (0)

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The chief executive of Netezza Corp., which sells products to store and analyze large amounts of data for companies, exercised options for 42,000 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Friday.

In a Form 4 filed with the SEC, Jitendra S. Saxena reported exercising options for the shares Wednesday for 20 cents apiece and then sold them all the same day for $12.80 to $13.60 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.

Netezza is based in Framingham, Mass.

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