NEW YORK (AP) - A senior vice president at diversified industrial manufacturer Eaton Corp., exercised options for 78,798 shares of common stock, according to a Securities and Exchange Commission filing.
In a Form 4 filed with the SEC Friday, Arnold Craig reported he exercised options for the shares Wednesday for $34.65 to $40.60 apiece and then sold 73,450 of the shares the same day for $101.90 to $102.11 apiece. Craig also surrendered 1,954 shares back to the company for $102.30 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.
Eaton Corp. is based in Cleveland.
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