NEW YORK (AFX) - The president and chief executive of Highwoods Properties Inc., a commercial real estate investment trust, exercised options for 10,000 shares of common stock, according to a Securities and Exchange Commission filing Thursday.
The options were set to expire Dec. 31.
In a Form 4 filed with the SEC, Edward J. Fritsch reported he exercised the shares Wednesday for $27.75 apiece and then sold them the same day for $39.75 apiece.
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.
Highwoods is based in Raleigh, N.C.
Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.