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 18th Feb 2017

Bangladesh apparel sector has 95% local investors: BGMEA

Over 95 per cent of the total investors in the Bangladesh apparel...

Textiles | On 18th Feb 2017

Smriti Irani resolves cutting of carpets issue at ports

During a meeting held with stake holders of the carpet weaving...

Apparel/Garments | On 18th Feb 2017

Andhra Pradesh inks MoUs to set up 12 apparel units

At the recent CII Partnership Summit held in Hyderabad, memorandum of ...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Kevin Nelson
TissueGen

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

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search