NEW YORK (AP) - The chairman and chief executive of Symantec Corp., a
security software company, exercised options for 50,000 shares of common stock
under a prearranged trading plan, according to a Securities and Exchange
Commission filing Thursday.
In a Form 4 filed with the SEC, John Wendell Thompson reported he exercised
options for the shares on Tuesday for $7.33 apiece and then sold them all the
same day for $20.44 to $20.56 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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