The Associated Press reported that Palm Founder Jeff Hawkins sold 15,000 shares of the company under a common stock under a prearranged trading plan, siting a document (Form 4) filed with the Securities and Exchange Commission on Monday. He is reportedly receiving $17.60 per share.

The sale happened under a prearranged 10b5-1 trading plan that allows company insiders to set up a program in advance for such transactions and proceed with them even if he comes into possession of material non-public information.

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This news via Houston Chronicle.

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