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

Courtesy: Amazon

Apparel/Garments | On 23rd Sep 2018

Consumers in Turkey get access to Amazon

Amazon has launched in Turkey giving customers in the country...

Value in omni-channel retail with Flipkart buying: Walmart

Apparel/Garments | On 23rd Sep 2018

Value in omni-channel retail with Flipkart buying: Walmart

With the acquisition of Flipkart, Walmart sees great value in...

E-com to result in common SE Asian consumer market: BCG

Textiles | On 23rd Sep 2018

E-com to result in common SE Asian consumer market: BCG

The rapid spread of e-commerce and digital technologies is binding...

Interviews View All

DK Sharma, Velocity Apparelz

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

C. Dhandayuthapani, Mag Solvics Pvt. Ltd

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Smita Murarka, Amanté

Smita Murarka
Amanté

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

Akshat Chaudhary,

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Paolo Crespi,

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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


September 2018

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

news category


Related Categories:

Advanced Search