Wright Medical Chairman Sells Shares

The officer of Arlington, TN-based Wright Medical Group exercised options for 21,000 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission (SEC) filing on December 29, according to the Associated Press.

In a Form 4 filed with the SEC, F. Barry Bays reported he exercised the shares Wednesday and Thursday (December 27 and 28) for $4.35 apiece and then sold them the same day for $23.85 and $23.71 apiece.

Wright Medical Group is a manufacturer of reconstructive implants for knees, hips and joints.

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.