NEW YORK (AP) - The chief marketing officer of coal producer Peabody Energy Corp. exercised options for 8,838 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, Richard M. Whiting reported exercising the options Tuesday for $19.33 apiece and then selling all the shares the same day for $49.50 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 nonpublic 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.
Peabody Energy is based in St. Louis.
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