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Guess? Inc, Maurice Marciano adopts 10b5-1 trading plan
23 Dec '06
1 min read
Guess? Inc announced that on December 15, 2006, Maurice Marciano, Co-Chairman and Co-CEO, executed a plan to sell shares of the Company's common stock in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934. Under the plan, Mr. Marciano will sell under pre-arranged terms up to 300,000 shares held through a trust in open market transactions through February 9, 2007.
Rule 10b5-1 permits insiders to implement a written plan to sell stock when they are not in possession of material non-public information and continue to sell shares on a regular basis even if they receive such information subsequently. Such plans establish predetermined trading parameters that do not permit the person adopting the plan to exercise any subsequent influence over how, when or whether to effect trades.
Using these plans, insiders can gradually diversify their investment portfolios, spread stock trades out over an extended period of time to reduce market impact and avoid concerns about transactions occurring at a time when they might possess inside information.
Sales of common stock by Mr. Marciano pursuant to the terms of the plan or otherwise will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission.
Rule 10b5-1 permits insiders to implement a written plan to sell stock when they are not in possession of material non-public information and continue to sell shares on a regular basis even if they receive such information subsequently. Such plans establish predetermined trading parameters that do not permit the person adopting the plan to exercise any subsequent influence over how, when or whether to effect trades.
Using these plans, insiders can gradually diversify their investment portfolios, spread stock trades out over an extended period of time to reduce market impact and avoid concerns about transactions occurring at a time when they might possess inside information.
Sales of common stock by Mr. Marciano pursuant to the terms of the plan or otherwise will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission.
Guess? Inc
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