Parker-Hannifin CFO exercises options |
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Tue, 30 Oct 2007 21:44
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NEW YORK (AP) - The chief financial officer and executive vice president of finance and administration at Parker-Hannifin Corp., which makes motion control systems for the industrial and aerospace markets, exercised options for 10,104 shares of common stock, according to a Securities and Exchange Commission filing.In a Form 4 filed with the SEC Monday, Timothy Pistell reported he exercised the options Friday for $48.19 apiece and then sold 16,787 shares for $76.69 to $78.81 apiece. Pistell also surrendered 3,141 shares for $77.99 to $78.61 each.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.Parker-Hannifin is based in Cleveland.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Parker-Hannifin vp exercises options 