Option Granting Practices and exploits Message Board

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Strategies & Market Trends : Option Granting Practices and exploits

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Oct 31 9:30 AM EDT

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To: Glenn Petersen who wrote (68)	1/2/2007 9:50:02 PM
From: RockyBalboa	of 165

CFC also has such a plan. Here the PR explicitly mentions the suitability of trades made under such a plan even in the case of non-public information available to the seller. Countrywide Financial Pres. Sells Shares Tuesday January 2, 2:30 pm ET Countrywide Financial President and Operations Chief Exercises Options for 14,000 Shares NEW YORK (AP) -- The president and chief operating officer of Countrywide Financial Corp., a lender of residential mortgages, exercised options for 14,000 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Friday. In a Form 4 filed with the SEC, David Sambol reported he exercised the options on Thursday for $14.69 apiece and then sold all of them the same day for $42.85 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. Countrywide is based in Calabasas, Calif.

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