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NEW YORK - The chief technology officer of solar-power product maker Hoku Scientific Inc. sold 25,000 shares of common stock under a prearranged trading plan, according to Securities and Exchange Commission filings.
| HOKU | 5.5 |  -0.47 |
In Form 4s filed with the SEC Friday, Karl M. Taft III reported he sold the shares Wednesday for $8.19 to $8.55 apiece. He reported owning the shares indirectly through a trust.
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.
Hoku Scientific is based in Kapolei, Hawaii.
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