2.43%XLF 15.10 
10.30%QQQQ 31.32 0.63%
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NEW YORK - The chief financial officer and executive vice president of memory chip maker STEC Inc. exercised options for 140,000 shares of common stock, according to filings with the Securities and Exchange Commission.
| STEC | 7.12 |  0.43 |
In Form 4s filed with the SEC Friday, Dan Moses reported exercising the options on Wednesday for $3.67 apiece, then selling all 140,000 shares on the same day for $12.76 to $13.30 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.
STEC is based in Santa Ana, Calif.
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