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NEW YORK - A director with oil and natural gas company Delta Petroleum Corp. exercised options for 75,000 shares of common stock and sold them under a prearranged trading plan, according to a Securities and Exchange Commission filing.
| DPTR | 10.04 |  -1.99 |
In a Form 4 filed with the SEC Monday, Aleron H. Larson Jr. reported he exercised options for the shares Friday for $5.29 apiece and then sold all of them the same day for $26.01 to $26.25 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.
Delta is based in Denver.
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