Hi-Shear Tech CEO sells shares |
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Fri, 20 Apr 2007 18:52
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NEW YORK (AP) - The president and chief executive of Hi-Shear Technology Corp., which designs and makes products for the aerospace industry, sold 6,000 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, George W. Trahan reported he sold the shares Monday, Tuesday and Wednesday for $10.50 to $10.70 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.Hi-Shear Technology is based in Torrance, Calif.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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