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Capital One Financial Corporation Message Board

  • ttitern ttitern May 15, 2007 2:57 PM Flag

    CEO DUMPING shares.......news

    Capital One CEO acquires, sells shares

    07:24 PM Tuesday, May 15, 2007
    NEW YORK, May 16, 2007 (AP via COMTEX News Network) -- The chairman, president and chief executive of Capital OneFinancial Corp., a credit card issuer and retail bank, exercised options toacquire 10,739 of the company's common shares and then sold them under aprearranged trading plan, according to a Securities and Exchange Commissionfiling.

    In a Form 4 filed with the SEC Monday, Richard D. Fairbank reported heexercised the options Thursday for $16.25 apiece and then sold all 10,739 ofthem on the same day for $75.25 to $76.89 apiece.

    The stock sale was conducted under a prearranged 10b5-1 trading plan whichallows a company insider to set up a program in advance for such transactionsand proceed with them even if he or she comes into possession of materialnon-public information.

    Insiders file Form 4s with the SEC to report transactions in theircompanies' shares. Open market purchases and sales must be reported within twobusiness days of the transaction.

    Capital One is based in McLean, Va.

    Copyright 2007 Associated Press. All rights reserved. This material may not bepublished, broadcast, rewritten, or redistributed.

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