Thoratec Corporation's Chief Executive Officer just cashed-in 20,000 options

Gerhard F Burbach, Thoratec Corporation's Chief Executive Officer and a director of the company, recently cashed-in 20,000 options. The options were exercised at $23.62, while the sales took place at $43.00 per share, on November 14, 2013. Burbach continues to hold 156,307 shares of the company. Burbach operates out of Pleasanton, CA. Some additional info was provided as follows:

Options were granted pursuant to the Company's equity incentive plan with no payments received for the options. Options vest in four equal annual installments commencing one year after the grant date. Options exercised and shares of Common Stock sold pursuant to a Sales Plan established by the Reporting Person on September 9, 2013, which Sales Plan is intended to comply with the requirements of Rule 10b5-1(c)(1) under the Securities Exchange Act of 1934, as amended. This transaction was executed in multiple trades in prices ranging from $43.00 to $43.02. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer, or a stockholder of the Issuer, information regarding the number of shares and prices at which the transaction was effected.

The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.

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