Peabody Energy dir. exercises options |
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Mon, 31 Dec 2007 17:48
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NEW YORK (AP) - A director of coal company Peabody Energy Corp. exercised options for 20,000 shares of common stock, according to a Securities and Exchange Commission filing.In a Form 4 filed with the SEC Friday, William E. James reported he exercised the options on Wednesday for $3.30 apiece, then sold all 20,000 shares on the same day for $62 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.Peabody Energy is based in St. Louis, Mo.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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CORRECTION Peabody in talks with Chinese coal firms on joint exploration-UPDATE 