NEW YORK (AP) - The senior vice president and chief financial officer of BMC Software Inc., which makes business management software, exercised options for 16,500 shares of common stock, according to a Securities and Exchange Commission filing.
In a Form 4 filed with the SEC Wednesday, Stephen B. Solcher reported he exercised the options on Monday for $13.97 to $16.43 apiece. He also sold 25,000 shares on the same day for $31.37 to $31.38 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.
BMC Software is based in Houston.
Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
© 2007 AFX News
