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NuVasive EVP exercises options for 8,000 shares



By AP
23 May 2008 @ 12:47 pm EST

NEW YORK - The executive vice president of marketing and development for medical device company NuVasive Inc. exercised options for 8,000 shares of common stock, according to a filing with the Securities and Exchange Commission Thursday.

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NUVA 42.61 1.94

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In a Form 4 filed with the SEC, Patrick Miles reported exercising the options on Thursday for $9.50 apiece, then selling all 8,000 shares on the same day for $39.51 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 nonpublic 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.

NuVasive is based in San Diego.

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 This material may not be published, broadcast, rewritten or redistributed.

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