NEW YORK (AP) - The senior vice president of European operations and
president of U.S. Steel Kosice for steelmaker United States Steel Corp.
exercised options for 3,433 shares of common stock, according to a Securities
and Exchange Commission filing Monday.
In a Form 4 filed with the SEC, George F. Babcoke reported he exercised the
shares on Thursday for $65.40 and $109.32 apiece and then sold 3,126 of them the
same day for $174.86 and $174.89 apiece. He also surrendered 408 shares back to
the company for $172.38 and $174.41 apiece.
Insiders can surrender shares as a way to cover either taxes or the cost of
exercising options.
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.
U.S. Steel is based in Pittsburgh.
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