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Updated from 9:42 a.m.
Bank of America (BAC Quote) said CEO Kenneth D. Lewis started a 10b5-1 plan covering the exercise of 4.1 million options to buy Bank of America shares over five months.
After paying taxes and acquisition costs out of the exercise proceeds, he will retain all of the resulting shares and receive no additional cash. A spokesman said at current prices, Lewis will end up keeping around 700,000 shares out of the options grants.
Lewis owned 6.6 million shares as of Dec. 31. ...
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