AeroVironment (AVAV) CEO Enters Stock Trading Plan On Behalf of Family Trust
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AeroVironment, Inc. (NASDAQ: AVAV) said CEO/Chairman Timothy E. Conver, as Trustee of The Conver Family Trust, has established a pre-arranged 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 4,189,141 shares of AeroVironment common stock (including all options currently exercisable by Mr. Conver), or approximately 19.35% of the company’s current outstanding shares. The transactions under this plan will commence no earlier than January 2010 and will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission.
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