5.09%QQQQ 34.86 3.65%XLF 17.80 5.22%
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NEW YORK - The chairman, president and chief executive of oil and natural-gas company Ultra Petroleum Corp. exercised options for 79,130 shares of common stock, according to a Securities and Exchange Commission filing.
| UPL | 50.87 |  0.54 |
In a Form 4 filed with the SEC Friday, Michael D. Watford reported he exercised the options Thursday for 46 cents apiece, then sold 50,000 shares on the same day for $81.08 apiece. Watford also surrendered 29,130 shares back to the company for $80.83 apiece.
Insiders can surrender shares as a way to cover either taxes or the cost of exercising options.
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.
Ultra Petroleum is based in Houston.
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