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American Superconductor CEO exercises options

By Associated Press
June 13, 2008 | Comments (0)

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The chairman, president and chief executive of energy equipment supplier American Superconductor Corp., exercised options for 246,098 shares of common stock under a prearranged trading plan, according to three Securities and Exchange Commission filings Thursday.

In Form 4s filed with the SEC, Gregory J. Yurek reported he exercised options for the shares on Tuesday, Wednesday and Thursday for $25.63 apiece and then sold 244,898 shares the same days for $42 to $45.05 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.

American Superconductor Corp. is based in Devens, Mass.

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