Tarragon CEO sells 1.7 million shares of company stock

By Lisa Kerner

Charlotte, N.C., Dec. 11 - Tarragon Corp. chairman and chief executive officer William S. Friedman sold 1.7 million shares of the company's stock during the 60 days ended Aug. 23. Friedman also acquired 170,157 shares of Tarragon stock at $4.70 each as the result of his exercise of a stock option on July 25, 2007.

The transactions were reported in a schedule 13D filing with the Securities and Exchange Commission.

Friedman, together with Lucy N. Friedman, beneficially owns some 6.4 million shares, or 22.3%, of Tarragon common stock.

Tarragon is a New York homebuilder.

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