Home / Knowledge / News / Apparel/Garments / Gildan CEO enters into pre-arranged share disposition plan
Gildan CEO enters into pre-arranged share disposition plan
18
Feb '14
Gildan Activewear Inc. announced that Glenn J. Chamandy, President and CEO, has entered into a pre-arranged share disposition plan, under which he has authorized and directed a U.S. financial institution to sell up to 1 million of his common shares of Gildan over a maximum 11-month period beginning on March 10, 2014. 
 
Subsequent to the sale of shares under the 10b5-1 plan, Mr. Chamandy will continue to be one of the largest investors in Gildan, with over 6 million remaining shares representing approximately 5% of the outstanding shares on a fully diluted basis.
 
This share disposition plan was adopted in accordance with the guidelines under Rule 10b5-1 of the Securities Exchange Act of 1934 and guidelines for Automatic Securities Disposition Plans under applicable Canadian securities laws. Plans established pursuant to Rule 10b5-1 permit insiders of a corporation to sell shares over a predetermined period of time, subject to predetermined volume and price parameters. A plan can only be established when the insider participating in the plan is not in possession of material non-public information. 
 
Once a plan is established, the insider retains no discretion over sales under the plan. Mr. Chamandy will disclose publicly the sales under this plan through Form 144 filings as required by the U.S. Securities and Exchange Commission and through insider reports filed on SEDI as required under Canadian securities laws.
 
About Gildan
Gildan is a leading supplier of quality branded basic family apparel, including T-shirts, fleece, sport shirts, socks and underwear. The Company sells its products under a diversified portfolio of company-owned brands, including the Gildan(R), Gold Toe(R) and Anvil(R) brands and brand extensions, as well as under licensing arrangements for the Under Armour(R), Mossy Oak(R) and New Balance(R) brands. 
 
The Company distributes its products in printwear markets in the U.S. and Canada, where Gildan(R) is the industry-leading brand, and the Company is increasing its penetration in international printwear markets. The Company is also one of the largest suppliers of branded athletic, casual and dress socks for a broad spectrum of retailers in the U.S. The Company is also developing Gildan(R) as a consumer brand for underwear and activewear.
 

Gildan


Must ReadView All

Apparel/Garments | On 23rd Jun 2017

Alfredo Grassi to develop graphene-enhanced workwear

Alfredo Grassi, manufacturer of customised protective clothing,...

Courtesy: IMRG

Apparel/Garments | On 23rd Jun 2017

UK online retail sales up only 10.2 pc YoY in May 2017

UK online retail sales were up 10.2 per cent year-on-year (YoY) in...

Courtesy: Radicigroup

Textiles | On 23rd Jun 2017

Radici Chimica focuses on business continuity

Radici Chimica SpA, a strategic RadiciGroup company, is keen on...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
June 2017

June 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search