CELG Insiders profit on Celgene stock surge - Barron's Online (69.98 )
Barron's Online reports executvies and directors at Celgene (CELG) have been cashing in stocks and options for exponential returns. Two weeks ago, seven insiders sold 1.57 million shares for $95.8 million, according to SEC filings. About a quarter of the stocks sold were acquired through options priced from $1.78 to $2.79. Chief Executive John Jackson sold 604,000 shares for $37.2 mln. But he did add nearly 20,000 shares to his 401(k) plan. Sol Barer, president and chief operating officer, sold 554,000 shares after exercising options on about half of them, while Robert Hugin, chief financial officer, sold about 260,000 shares in the open market. Directors Arthur Hayes, Walter Robb, Jack Bowman and Gilla Kaplan sold 120,200 shares following options exercises.
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