The senior vice president and controller of Magellan Health Services Inc. a behavioral health and radiology services provider exercised options for shares of common stock under a prearranged trading plan according to a Securities and Exchange Commission filing Monday. In a Form filed with the SEC Jeffrey N. West reported he exercised options for the shares on Wednesday for . to . apiece and then sold all of them the same day for . apiece. The stock sale was conducted under a prearranged b 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 non public information. Insiders file Form s 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. Magellan Health Services is based in Avon Conn. Email Story Set News Alert Print Story Copyright Yahoo Inc. All rights res! erved. Privacy Policy Terms of Service Copyright The Associated Press. All rights reserved. The information contained in the AP News report may not be published broadcast rewritten or redistributed without the prior written authority of The Associated Press.
Source: http://biz.yahoo.com/ap/080205/magellan_health_insider_transactions.html?.v=1
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