International Ship CEO Sells Stock

The chairman and chief executive of International Shipholding Corp., which provides maritime transportation to commercial and government customers, exercised options for 8,300 shares of common stock then sold those shares under a prearranged trading plan according to a Securities and Exchange Commission filing Monday.

In a Form 4 filed with the SEC, Niels M. Johnsen reported he exercised options for $14.13 apiece Thursday and Friday then sold the shares for $20.40 to $20.80 apiece Thursday and Friday.

The stock sale was conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material non-public information.

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.

International Shipholding is based in Mobile, Ala.