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Cyberonics director exercises options



By AP
01 July 2008 @ 04:03 pm EST

NEW YORK - A director of medical device maker Cyberonics Inc. exercised options for 25,000 shares of common stock, according to Securities and Exchange Commission filings Monday.

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In Form 4s filed with the SEC, Michael J. Strauss reported exercising the options on Thursday for $7.94 apiece and then selling the same number of shares on the same day for $21 to $21.73 apiece.

Strauss also reported buying 13,000 shares on Thursday for $11.47 apiece.

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.

Cyberonics is based in Houston.

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 This material may not be published, broadcast, rewritten or redistributed.

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