10.23%SPY 127.82 0.19%FRE 3.16 
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WASHINGTON - The chairman and chief executive of orthopedic-device maker Exactech Inc. exercised options for 19,350 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing.
| EXAC | 28.01 |  0.16 |
In a Form 4 filed Thursday with the SEC, William Petty reported that he exercised the options Wednesday for $9.41 apiece and then sold all 19,350 shares on the same day for $26.09 apiece.
The stock sale was conducted under a prearranged 10b5-1 trading plan which allows company insiders to set up a program in advance for such transactions and proceed even if they come 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.
Exactech is based in Gainesville, Fla.
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