From AFX News Limited

NEW YORK -- The president of Eaton Corp.'s automotive unit exercised options for 43,744 shares of common stock, according to a Securities and Exchange Commission filing Tuesday.

In a Form 4 filed with the SEC, Stephen Buente reported he exercised the options Friday for $40.60 to $59.07 apiece and sold 42,687 of them the same day for $94.01 to $93.50 apiece. Buente also surrendered 670 shares back to the company for $94.06 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.

Eaton is based in Cleveland, OH.

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