New York (NY) – Intel’s senior VP David Perlmutter has exercised stock options as part of a scheduled trading plan. He exercised 28,000 shares worth of call options at $19/share and then sold every share for $25 each. Permultter netted $168,000 out of the $700,000 deal.
Senior executives of corporations often have pre-arranged trading plans that will buy or sell shares on specific dates. These plans reduce the appearance of impropriety and insider trading because they happen automatically, irrespective of stock’s current price.
Read more … AP via Forbes.