Herbalife (HLF) CEO Enters Trading Plan Covering 732K Shares
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Herbalife Ltd. (NYSE: HLF) announced that Chairman and CEO Michael O. Johnson has established a pre-arranged personal stock trading plan to address the upcoming expiration of certain stock options and for asset allocation and estate planning purposes. The plan was adopted in accordance with guidelines specified by Rule 10b5-1 of the Securities and Exchange Act, as well as Herbalife’s policies with respect to sales by officers and directors.
The purpose of the pre-arranged personal stock trading plan, which was discussed with and acknowledged by the Herbalife board of directors on October 29, 2009, is intended to provide Johnson, who receives a substantial portion of his compensation in the form of equity awards, with the ability to exercise and sell certain previously granted options before such options expire in three years. This pre-arranged personal stock trading plan covers 732,370 shares out of the 2,702,054 total shares, which, under SEC rules, Johnson beneficially owns, including stock owned, stock options, stock appreciation rights, and restricted stock units.
The purpose of the pre-arranged personal stock trading plan, which was discussed with and acknowledged by the Herbalife board of directors on October 29, 2009, is intended to provide Johnson, who receives a substantial portion of his compensation in the form of equity awards, with the ability to exercise and sell certain previously granted options before such options expire in three years. This pre-arranged personal stock trading plan covers 732,370 shares out of the 2,702,054 total shares, which, under SEC rules, Johnson beneficially owns, including stock owned, stock options, stock appreciation rights, and restricted stock units.
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