NEW YORK (AP) - The president and chief operating officer of memory chip
maker SanDisk Corp. exercised options for 5,000 shares of common stock,
according to a filing with the Securities and Exchange Commission Tuesday.
In Form 4s filed with the SEC, Sanjay Mehrotra reported exercising the
options on Tuesday for $5.41 apiece, then selling all 5,000 shares on the same
day for $25.43 to $26.09 apiece.
The transactions were 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.
SanDisk is based in Milpitas, Calif.
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