Stratex Networks, Inc. (STXN) Message Board

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Technology Stocks : Stratex Networks, Inc. (STXN)

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To: The Ox who wrote (1749)	1/3/2007 4:58:50 PM
From: Rob Preuss	of 1762

Stratex Chairman Exercises Options SYNOPSIS: Last Wednesday & Friday, Chuck Kissner (CEO) exercised options for over 50,000 shares at a strike price of $1.72/share and then immediately sold all these shares on the market at $5.00/share. Thus, he pocketed over $164,000 in (short-term?) capital gains. IMHO, this action does not express confidence in the post-merger prospects for this company. Tuesday January 2, 2:34 pm ET Stratex Chairman Charles Kissner Exercises 50,136 Options NEW YORK (AP) -- The chairman of Stratex Networks Inc., which makes wireless microwave radio transmission products, exercised options for 50,136 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, Charles Kissner reported he exercised the shares Wednesday and Friday for $1.72 apiece and then sold them Wednesday and Friday for $5 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. Stratex is based in San Jose, Calif.

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