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Ellie Mae's Founder & Executive Chairman just disposed of 12,500 shares

Sigmund Anderman, Ellie Mae's Founder & Executive Chairman and a director of the company, recently disposed of 12,500 shares of the company. The disposals took place at prices ranging from $68.12 to $70.27 per share, on October 26, 2015. Anderman still owns 431,712 shares of the company. Anderman operates out of Pleasanton, CA. Some additional info was provided as follows:

The sales reported on this Form 4 were effected pursuant to the reporting person's Rule 10b5-1 trading plan. The price reported is a weighted average price. The shares were sold in multiple transactions ranging from $67.6900 to $68.6250, inclusive. The reporting person undertakes to provide to Ellie Mae, Inc., any security holder of Ellie Mae, Inc., or the staff of the Securities...

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