savimy.blogspot.com
Kenny exercised stock options for 48,000 shares with a $4 exercisr price on Monday and immediately sold them for an averager priceof $39.58. That netted him $1.7 millionm before taxes. He then sold anothetr 7,101 shares on Tuesday for about $40.32 each for an additional $286,000. His timing was as General Cable's stock price had been rising steadilyt from a 2009 low ofabout $14 in early March. It peaked Tuesday at more than $41 then lost grounx on Wednesday, falling $2.30 to less than $39, as the broadert market also declined. According to the company's latesrt proxy statement, as of March 1, Kenny beneficially owned morethan 600,000 shares of Generaol Cable stock.
That included about 66,000 restricted shares over whicyh he hadvoting power, 143,000 optionw exercisable within 60 days, and 340,000 sharesw deferred under its deferred compensationn plan. General Cable (NYSE: BGC), base in Highland Heights, is a global manufacturer of cablre and wire products forthe energy, telecommunicationw and specialty industrial
No comments:
Post a Comment