CDS executive exercises options

Wednesday, Nov. 3, 1999 | 10:19 a.m.

The chief financial officer of Casino Data Systems Inc. of Las Vegas exercised 12,000 stock options in August, resulting in a net profit of $37,500.

From Aug. 23 to Aug. 31, Lee Lemas exercised options to purchase 4,000 shares of stock at $3 per share on three separate occasions. These shares were immediately resold at prices ranging from $6 to $6.25 per share. Lemas also sold 2,154 shares held in an employee stock purchase plan Aug. 23, raising an additional $13,200.

Lemas said she exercised the options to raise funds for a separate investment opportunity.

The Las Vegas Sun reported Monday that Lemas sold 4,000 shares of stock in the company, but the Sun failed to explain the shares sold were obtained by the exercise of options. Lemas holds no shares of company stock, but currently has 25,000 options to purchase stock at $1.53 per share, and 500 options to purchase shares at $3 each.

archive