4.27%XLF 16.00 10.11%QQQQ 32.65 6.34%
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NEW YORK - The chief executive and president of Ultra Petroleum Corp., an oil and natural-gas company, exercised options for 79,068 shares of common stock, according to a Securities and Exchange Commission filing Friday.
| UPL | 42.44 |  -5.72 |
In a Form 4 filed with the SEC, Michael D. Watford reported he exercised options for the shares on Wednesday for 46 cents apiece. He sold 50,000 of them the same day for $93.34 apiece. Watford also surrendered 29,068 shares back to the company for $93.49 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.
Ultra Petroleum is based in Houston.
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