(The Associated Press circulated the following on February 2.)
NEW YORK — The vice president and controller of railroad operator CSX Corp. sold 12,325 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing.
In a Form 4 filed with the SEC Tuesday, Carolyn T. Sizemore reported she sold the shares Friday for $46.92 apiece. Sizemore also surrendered 4,598 shares back to the company for $45.45 apiece.
Insiders can surrender shares as a way to cover either taxes or the cost of exercising options.
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.
CSX is based in Jacksonville, Fla.