Blue Nile senior VP sells shares

WASHINGTON --A senior vice president of online jewelry retailer Blue Nile Inc. sold 2,000 shares of common stock under a prearranged trading plan, according to a Securities and Exchange Commission filing.

In a Form 4 filed Friday with the SEC, Dwight Gaston reported he sold the shares Wednesday for $56.51 apiece.

The stock sale was conducted under a prearranged 10b5-1 trading plan which allows company insiders to set up a program in advance for such transactions and proceed even if they come into possession of material nonpublic information.

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.

Blue Nile is based in Seattle.