Research In Motion (RIMM) Co-CEOs Adopt Stock Trading Plans

May 21, 2009 7:21 AM EDT

Research In Motion Limited (Nasdaq: RIMM) announced that Jim Balsillie and Mike Lazaridis, RIM's Co-Chief Executive Officers, have each adopted new automatic stock trading plans.

The new ASDPs are summarized below:

• Jim Balsillie - Mr. Balsillie's ASDP provides for weekly donations of RIM shares to a registered charitable foundation established by Mr. Balsillie up to a maximum value of Cdn$100 million over the up to 24-month duration of the ASDP as well as weekly donations of RIM Shares to the Centre for International Governance Innovation ("CIGI") up to a maximum value of Cdn$57 million of donations over the up to 24-month duration of the ASDP, subject to limit order prices in certain cases. Each of the foundation and CIGI will immediately sell the shares received from Mr. Balsillie, subject to certain limits in the case of the foundation. The ASDP also provides for weekly sales of RIM shares up to a maximum value of Cdn$360 million of sales over the 24-month duration of the ASDP, subject to a limit order price. The shares being donated and/or sold by Mr. Balsillie include up to 600,000 shares issuable upon exercise of stock options that are scheduled to expire during the term of the ASDP. Donations and sales under Mr. Balsillie's ASDP will not commence until after the expiry of the three-month cooling-off period described above. Mr. Balsillie currently beneficially owns approximately 34.97 million RIM shares, including the shares that will be subject to the ASDP (determined in accordance with the rules of the Securities and Exchange Commission (the "SEC"), and including shares underlying stock options that are exercisable within 60 days).
  
• Mike Lazaridis - Mr. Lazaridis' ASDPs provide for weekly donations of RIM shares to a registered charitable foundation established by Mr. Lazaridis in an aggregate amount of approximately Cdn$190 million over the up to 22-month duration of the ASDPs (assuming that donations are made at the current market price for RIM shares - the actual amount of the donations will depend on the market price for RIM shares at the time of the donations), subject to limit order prices. The foundation will immediately sell the shares received from Mr. Lazaridis, subject to a limit order price. In addition to sales by the foundation, the ASDPs also provide for weekly sales of RIM shares up to a maximum value of Cdn$200 million over the up to 22-month duration of the ASDPs, subject to a limit order price. The shares being donated and/or sold by Mr. Lazaridis include up to 600,000 shares issuable upon exercise of stock options that are scheduled to expire during the term of the ASDPs. Donations and sales under Mr. Lazaridis' ASDPs will not commence until after the expiry of the three-month cooling-off period described above. Mr. Lazaridis currently beneficially owns approximately 34.81 million RIM shares, including the shares that will be subject to the ASDPs (determined in accordance with the rules of the SEC, and including shares underlying stock options that are exercisable within 60 days).

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