NEW YORK (AP) -- The president of Medis Technologies Ltd., a developer of fuel cell technology, exercised options for 30,000 shares of common stock, according to a Securities and Exchange Commission filing on Thursday.

In a Form 4 filed with the SEC, Jacob S. Weiss reported he exercised the shares on Dec. 21 for $2.93 apiece, and then sold all of them the same day for between $19.55 and $19.70 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.

Medis Technologies Ltd. is based in New York.