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


Interviews View All

Shiladitya K Joshi, Truetzschler India Private Limited

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Yash Maniyar, Rekha Maniyar

Yash Maniyar
Rekha Maniyar

Indian fashion market is growing at a staggering rate

Top executives, Textile industry

Top executives
Textile industry

Technical textiles industry moving back to Europe

Xavier Martinez,

Xavier Martinez

CADT Software & Drafting was founded in Spain in 1987 by Josep...

Ashish M Amin,

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Manoj Sorathiya,

Manoj Sorathiya

Surat-based Sunrise Imports & Exports Co is a manufacturer and...

Justin Gutierrez, INDA

Justin Gutierrez
INDA

The Association of the Nonwoven Fabrics Industry (INDA) has created a new...

Johann-Philipp Dilo, Dilo Group

Johann-Philipp Dilo
Dilo Group

German company Dilo Group is one of the leading equipment suppliers of...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Adriano Goldschmied, AG Jeans

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

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

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

Leave your Comments


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search