Procter & Gamble Co (PG)

[dr_praeses]

P&G CFO Sells, Surrenders Shares

Friday June 1, 10:43 am ET
Procter & Gamble Chief Financial Officer Clayton C. Daley Jr. Sells, Surrenders Shares

NEW YORK (AP) -- The chief financial officer of consumer products company Procter & Gamble exercised options for 8,018 shares and sold 2,140 shares, according to a Securities and Exchange Commission filing Thursday.

In a Form 4 filed with the SEC, Clayton C. Daley Jr. reported he exercised options for $37.48 apiece and sold shares for $63.76 to $63.77 apiece Wednesday. Daley also surrendered 5,866 shares back to the company for $63.54 apiece. He gifted 50 shares of common stock May 15.

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.

Procter & Gamble is based in Cincinnati.