Kirkland's (KIRK) Founder Enters Into Prearranged Stock Selling Plan

March 26, 2009 4:10 PM EDT

Late yesterday, Kirkland's, Inc. (Nasdaq: KIRK) announced that pursuant to guidelines specified by Rule 10b5-1 under the SEC Act of 1934 and Kirkland's policies with respect to insider sales, Carl Kirkland, the Company's founder and a current director, has adopted a prearranged stock trading plan as part of his individual long-term strategy for asset diversification and liquidity.

Rule 10b5-1 permits corporate officers and directors of public companies to adopt written, prearranged stock trading plans for selling specified amounts of stock.

Under the 10b5-1 plan, Mr. Kirkland may sell up to 1,400,000 shares, subject to certain predetermined minimum price conditions, over a period of two years. The transactions under this plan will commence no earlier than April 24, 2009, and will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission. The Form 4 filings will also be posted on the Investor Relations page of the Company's website.

Prior to any stock sales under the plan, Mr. Kirkland and related family trusts collectively own 6,189,727 shares of Kirkland's, Inc. common stock. Mr. Kirkland intends to continue to hold significant ownership in the Company and keep an active presence on the Company's Board of Directors.
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