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Blue Nile senior v.p. sells shares

June 11, 2007

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On Wednesday, Dwight Gaston—a senior vice president at online jewelry retailer Blue Nile—sold 2,000 shares of common stock at $56.51 apiece. According to the Securities and Exchange Commission (SEC), the sale was conducted under a 10b-51 pre-arranged trading plan.

Under this plan, insiders are allowed to establish their intent to sell in advance, and they can proceed with the transaction even if they gain access to non-public information. They simply need to submit a Form 4 to the SEC, which Gaston did on Friday, complying with the two-business-day filing requirement.
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