WASHINGTON (AP) - The vice chairman and chief financial officer of Bank of New York Mellon Corp. exercised options for 87,652 shares of common stock, according to a Securities and Exchange Commission filing.
In a Form 4 filed Thursday with the SEC, Bruce Van Saun reported he exercised the options Tuesday for $24.52 and $37.70 apiece and then sold 85,000 shares on the same day for $47.80 to $47.97 apiece.
He also surrendered 2,084 shares the same day back to the company for $47.98 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.
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