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NEW YORK (AP) -- The president and chief operating officer of industrial conglomerate United Technologies Corp. exercised options for 100,000 shares of common stock, according to a Securities and Exchange Commission filing. In two Form 4s filed with the SEC Thursday, Louis Chenevert reported he exercised the options Wednesday for $27 apiece, and then sold 19,249 shares Thursday for $78.50 to $78.75 apiece. Chenevert also surrendered 61,502 shares back to the company Wednesday for $78.90 apiece. Insiders can surrender shares as a way to cover either taxes or the cost of exercising options. 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. United Technologies is based in Hartford, Conn.
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