2 on Standard Pacific Board Sell Shares
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COSTA MESA — Arthur E. Svendsen, chairman and chief executive of Standard Pacific Corp., said Monday that he and Ronald R. Foell, a company director and former president, have sold 200,000 shares of Standard Pacific common stock.
Svendsen said the sales, which were made for tax reasons, will offset capital gains arising from a personal commercial real estate transaction unrelated to the company.
Standard Pacific builds single family homes and manufactures and markets movable acoustical office partitions and office furniture through its Panel Concepts unit.
The company’s stock rose 12.5 cents a share Monday to $5.625 on the New York Stock Exchange.
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