MANHATTAN – An executive vice president of Sirius Satellite Radio traded on inside information that the company was signing Howard Stern to a five-year, $500 million contract, and so did the president of Mahoney Cohen, which was representing Stern in negotiations with Stern, the SEC claims in Federal Court. It claims Sirius VP Tracey Stanyer bought 29,200 shares of Sirius based on the inside information, and Mahoney Cohen President Gary D. Herwitz bought 25,000 shares before Sirius announced the Stern deal on Oct. 6, 2004.

Sirius shares closed up by 16 percent on the day of the announcement. Sirius has fired Stanyer and Herwitz has resigned. The SEC seeks disgorgement and penalties.