Farmer Mac CEO exercises options |
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Thu, 19 Apr 2007 21:56
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NEW YORK (AP) - The president and chief executive of Federal Agricultural Mortgage Corp., a provider of agricultural real estate and rural housing mortgage loans known as Farmer Mac, exercised options for 46,245 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing.In a Form 4 filed with the SEC Wednesday, Henry D. Edelman reported he exercised the options Monday through Wednesday for $15.13 and $20 apiece and then sold all 46,245 shares on the same days for $28.68 to $29.17 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.Farmer Mac is based in Washington, D.C.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Farmer Mac CFO exercises options 