19.96%SPY 79.52 
5.39%XLF 9.68 3.09%
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NEW YORK - The president, chief executive and chairman of Cavium Networks Inc., which makes semiconductor processors, sold 9,800 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing Thursday.
| CAVM | 8.95 |  0.04 |
In a Form 4 filed with the SEC, Syed Ali reported he sold the shares Wednesday for $25 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.
Cavium Networks is based in Mountain View, Calif.
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