NEW YORK (AP) - The vice chairman and chief executive of electronics
retailer Best Buy Co. exercised options for 130,000 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, Bradbury H. Anderson reported he exercised
options for the shares on Wednesday and Thursday for $7.64 apiece and then sold
the shares the same days for $40.38 to $41.15 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
non-public 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.
Best Buy is based in Richfield, Minn.
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