Home / Knowledge / News / Apparel/Garments / True Religion Chairman completes sale of common shares
True Religion Chairman completes sale of common shares
14
May '08
True Religion Apparel Inc announced that Chairman and Chief Executive Officer Jeffrey Lubell sold 3.2 million shares of True Religion Apparel common stock on May 13, 2008.

Mr. Lubell sold these shares for two purposes: first, to fulfill an obligation due under the marital dissolution agreement with his former wife; and second, to continue his financial, estate and tax planning.

In May 2007, Mr. Lubell and his former wife restructured their collective holdings of equity interests in True Religion Apparel, including common stock, restricted stock and stock options. At that time, Mr. Lubell received control of these securities. In order to satisfy his obligations under the marital dissolution, Mr. Lubell sold shares of True Religion Apparel common stock on June 7, 2007 and May 13, 2008. With the completion of this sale, Mr. Lubell has no further payments due to his former wife related to the restructuring of their collective holdings of equity interests in True Religion Apparel.

Following this transaction, Mr. Lubell retains beneficial ownership of 3,012,657 shares of True Religion Apparel common stock, including 2,557,664 shares of Company common stock, 64,993 shares of restricted stock which are subject to a right of forfeiture, 190,000 shares of restricted stock which may be earned if certain performance criteria are achieved and which are subject to a right of forfeiture, and 200,000 options to purchase shares of Company common stock. Following this transaction, Mr. Lubell's ownership is approximately 12.3 percent of the Company's diluted outstanding shares.

In September 2007, Mr. Lubell entered into a pre-arranged stock sales plan (the "Plan") under which a broker not affiliated with the Company could sell up to 2,300,000 shares of Company common stock over a six month period starting on October 17, 2007. The Plan expired pursuant to its terms, and no stock sales were completed under the Plan.

Mr. Lubell will file a Form 4 with the Securities and Exchange Commission in connection with this transaction.

True Religion Apparel Inc


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Top executives
Textile & apparel bodies

The decision is transformational

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Mark Paterson
Technical Absorbents Ltd

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

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
76.8%
No
13.0%
Skip
10.1%

Total Votes: 69

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.3%
No
27.5%
Skip
10.1%

Total Votes: 69

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.5%
No
10.1%
Skip
4.3%

Total Votes: 69

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.4%
No
11.6%
Skip
13.0%

Total Votes: 69


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