Timken EVP Eisenberg Exercises Options

The executive vice president of finance and administration of Timken Co., which makes engineered bearings and alloy and specialty steel products, exercised options for 8,750 shares of common stock, according to a Securities and Exchange Commission filing.

In a Form 4 filed Wednesday with the SEC, Glenn A. Eisenberg reported he exercised the options Wednesday for $25.21 apiece and then sold a total of 18,193 shares on the same day for $30.40 and $30.44 apiece.

He also surrendered 1,601 shares Tuesday and Wednesday back to the company for $30.36 and 30.40 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.

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