Posted at 1:10 p.m., Thursday, December 6, 2007
Hoku CEO Shindo sells 100,000 shares per plan
Advertiser Staff
NEW YORK (AP) - The chairman, president and chief executive of alternative energy company Hoku Scientific Inc. sold 100,000 shares of common stock under a prearranged trading plan, according to Securities and Exchange Commission filings.In Form 4s filed with the SEC Wednesday, Dustin M. Shindo reported he sold the shares Monday for $7.73 to $8.35 apiece.
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 non-public 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.
Hoku Scientific is based in Kapolei, Hawaii.