The senior vice president and chief financial officer of design software maker Autodesk Inc. exercised options for 10,000 shares of common stock, according to a filing with the Securities and Exchange Commission on Tuesday.
In a Form 4 filed with the SEC, Alfred Castino reported exercising the options on Tuesday for $14.40 apiece, then selling all 10,000 shares on the same day for $33.48 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.
Autodesk is based in San Rafael, Calif.
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