NEW YORK (AP) - The chairman and chief executive of security software
company Symantec Corp. exercised options for 71,750 shares of common stock under
a prearranged trading plan, according to a Securities and Exchange Commission
filing.
In a Form 4 filed with the SEC Tuesday, John W. Thompson reported he
exercised the options on Friday and Monday for $7.33 apiece and then sold all
71,750 shares on the same days for $20 to $20.04 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.
Symantec is based in Cupertino, Calif.
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