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NEW YORK - The president and chief operating officer of Commscope Inc., a supplier of networking infrastructure, exercised options for 21,250 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Friday.
| CTV | 23.61 |  3.14 |
In a Form 4 filed with the SEC, Brian D. Garrett reported he exercised options for the shares on Thursday for $17.25 apiece and then sold them all the same day for $50 to $50.82 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.
Commscope is based in Hickory, N.C.
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