Starbucks EVP exercises options

The executive vice president of partner resources of coffee retailer Starbucks Corp. exercised options for 40,000 shares of common stock, according to a Securities and Exchange Commission filing.

In a Form 4 filed with the SEC Monday, David Pace reported he exercised the options on Thursday and Friday for $15.23 apiece, then sold all 40,000 shares on the same days for $22.84 to $23.66 apiece.

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.

Source: CNNMoney