AeroVironment (AVAV) CEO Enters Rule 10b5-1 Plan to Sell 280K Shares Over 9 Months

September 30, 2008 7:34 AM EDT

AeroVironment, Inc. (NASDAQ: AVAV) today announced that its CEO and chairman, Timothy Conver, as Trustee of The Conver Family Trust, has established a Rule 10b5-1 stock trading plan to sell a portion of company stock held by the Trust over a specific period of time.

Under its Rule 10b5-1 Plan, the Trust may sell up to 280,000 shares over a period of approximately nine months. If the Trust completes all the planned sales under its Rule 10b5-1 Plan, Mr. Conver would beneficially own approximately 4,449,379 shares of AeroVironment common stock (including all options currently exercisable by Mr. Conver), or approximately 21% of the company's current outstanding shares. The transactions under this plan will commence no earlier than November 2008 and will be disclosed publicly through Form 144 and Form 4 filings with the SEC.

AeroVironment, Inc. engages in the design, development, and production of unmanned aircraft systems and energy technologies for various industries and governmental agencies.

Related Categories

Corporate News
Insider Trades

Stocks Mentioned

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?