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NEW YORK - The senior vice president and general counsel of Gilead Sciences Inc. exercised options for 51,500 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Thursday.
| GILD | 42.08 |  -0.57 |
In a Form 4 filed with the SEC, Alton H. Gregg reported he exercised options for the shares Tuesday for $8.46 to $8.94 apiece and then sold them the same day for between $50 and $50.22.
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.
Gilead is based in Foster City, Calif.
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