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Swift Energy president, director exercises options



By AP
22 May 2008 @ 02:17 pm EST

WASHINGTON - The president and director of oil and natural gas exploration company Swift Energy Co. exercised options for 6,844 shares of common stock, according to a Securities and Exchange Commission filing.

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In a Form 4 filed Wednesday with the SEC, Bruce H. Vincent reported he exercised the options Wednesday for $13.84 to $36.22 apiece and then sold 3,469 shares on the same day for $62.09 apiece.

He also surrendered 3,375 shares back to the company on Wednesday for $62.09 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.

Swift Energy is based in Houston.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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