CV Therapeutics CEO to Sell Shares
Monday September 25, 3:35 pm ET
CV Therapeutics CEO to Sell Shares Up to 50,000 Shares Under New Plan
WASHINGTON (AP) -- The chairman of CV Therapeutics Inc., which develops drugs to treat chronic cardiovascular diseases, plans to sell 50,000 shares of the company under a new trading plan filed with the Securities and Exchange Commission.
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Louis G. Lange, chairman and chief executive of the Palo Alto, Calif.-based company, has entered into a written trading plan with E-Trade Securities LLC that authorizes the sale of up to 50,000 shares, according to the SEC filing dated Sept. 18 but made public Monday.
Lange's new plan will begin as early as Nov. 1, and end on March 31, 2007.
"The shares subject to the trading plan do not represent all of Dr. Lange's holdings in CV Therapeutics' securities," according to the SEC filing. "During the term of the trading plan, Dr. Lange may from time-to-time buy or sell CV Therapeutics' securities outside of the plan."
According to a separate filing with the SEC, Lange held about 134,300 shares directly and about 1.8 million shares in his 401(k), along with another 10,000 held by family members or in a trust, as of Aug. 25.
Shares of CV Therapeutics gained 4 cents to $10.18 in afternoon trading on the Nasdaq. |
