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NEW YORK - A co-chairman of brokerage TradeStation Group Inc. sold 80,000 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing.
| TRAD | 6.41 |  -0.31 |
In a Form 4 filed with the SEC Monday, Ralph L. Cruz reported he sold the shares Friday for $9.89 to $10.14 apiece.
The shares were held by a limited partnership owned by Cruz.
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.
TradeStation is based in Plantation, Fla.
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