REC vice president increases her stake in company

MOSES LAKE — REC Silicon’s Francine Sullivan, the company’s vice president for business development, has recently upped her holdings of company stock, according to an REC press release.

Sullivan recently purchased 32,000 shares of REC shares at 14.8 cents per share — around 1.19 Norwegian Krone — for a total of just over $4,700.

According to REC, this brings Sullivan’s holdings to 117,000 shares valued at roughly $17,300 as of the close of trading for Tuesday, Feb. 12, on the Oslo Børs, Norway’s stock exchange.

REC traded as high as 1.57 krone (20 cents) per share on the Oslo exchange in early January.

While REC Silicon is listed on the Oslo Børs, the company also trades American Depository Receipts, a bank certificate that allows Americans to invest in foreign companies in the U.S., on the over the counter market in the United States. Those last traded on Feb. 2 and closed at 8 cents per share.

The company was required by Norwegian law to make public notification of the purchase because “Sullivan is a primary insider of REC Silicon,” according to the REC Silicon statement.

Charles H. Featherstone can be reached via email at countygvt@columbiabasinherald.com.