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NEW YORK - The executive vice president and general counsel of military contractor DRS Technologies Inc. exercised options for 8,400 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing.
| DRS | 78.24 |  0.29 |
In a Form 4 filed with the SEC Thursday, Nina Laserson Dunn reported she exercised the options on Tuesday and Wednesday for $32.08 apiece and then sold all 8,400 of them on the same days for $60 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 non-public 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.
DRS Technologies is based in Parsippany, N.J.
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