Coach president exercises options |
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Tue, 07 Aug 2007 16:07
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WASHINGTON (AP) - The president and executive creative director of Coach Inc. exercised options for 200,000 shares of common stock, according to a regulatory filing.In a Form 4 filed Monday with the Securities and Exchange Commission, Reed Krakoff reported he exercised the options Thursday, Friday and Monday for $12.49 apiece and then sold 95,779 shares on the same days for $46.50 to $47.10 apiece.He also surrendered 123,806 shares Thursday, Friday and Monday back to the company for $46.50 to $46.85 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.Coach, which makes luxury hand bags and accessories, is based in New York.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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