Chair And CEO Sells A Small Bit, Via A Pre-Arranged Plan. Actually Cashless Stock Option Excercises. Yawn.

From Mr. Frazier's pre-arranged transactions, we should infer. . . nothing. These are stock options he has held for going on nine years now.

The pre-arranged triggers were tripped -- so his soon-to-expire options have been cashed out.

. . . .The exercise and sale transactions reported in this Form 4 are made pursuant to a Rule 10b5-1 trading plan. . . . The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $57.9600 to $58.2700, inclusive. . . .

And he still directly holds over 338,500 shares. So 10,000 or so lighter is. . . really not much.