Executives plan stock sales

Friday, Oct. 22, 2004 | 9:28 a.m.

Station Casinos Inc.'s top executives intend to sell more than 1.7 million shares of company stock in the coming months, according to a filing with the Securities and Exchange Commission Thursday.

Chief Executive Frank Fertitta III, President Lorenzo Fertitta, Executive Vice President and Chief Development Officer Scott Nielson, Executive Vice President Stephen Cavallaro and Executive Vice President and General Counsel Richard Haskins said they intend to sell up to 806,184, 753,500, 100,000, 35,000 and 35,000 shares, respectively, as part of a prearranged plan.

SEC rules allow insiders to buy or sell company stock acquired through the exercise of options or from selling restricted shares through prearranged plans. Portions of the shares may be sold any time the stock achieves certain prearranged minimum prices, the filing said.

Included in Lorenzo Fertitta's plan are 459,250 shares that were carried over from a prior plan that has been terminated.

Separately, Wynn Resorts Ltd. on Wednesday filed a separate notice with the SEC stating that Executive Vice President and Chief Financial Officer John Strzemp entered into a prearranged plan to sell up to 70,000 shares concurrent with the vesting of 189,723 shares of restricted stock.