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Lufkin Industries general counsel exercises options

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May 1, 2008

NEW YORK—A vice president and general counsel at Lufkin Industries Inc., which makes equipment used in oil production and other industries, exercised options for 10,425 shares of common stock, according to a Securities and Exchange Commission filing Wednesday.

In a Form 4 filed with the SEC, Paul G. Perez reported he exercised options $12.16 to $46.70 apiece Monday and then sold the shares the same day for $75.50 to $75.70 apiece.

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.

Lufkin is based in Lufkin, Texas.

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