Tempur-Pedic (TPX) Affirms Open Market Purchases; Notifies of Upcoming Executive Option Exercises
Tweet Send to a FriendGet Alerts TPX Hot Sheet
Trade TPX Now!
Tempur-Pedic International Inc. (NYSE: TPX), confirmed that it is actively repurchasing shares in the open market under its current share repurchase authorization.
The Company had $200 million remaining available under its share repurchase authorization as of June 6, 2012, and stock repurchases under the Company's share repurchase program may be made through open market transactions, negotiated purchases or otherwise, at times and in such amounts as management and a committee of the Board deem appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, financing and regulatory requirements and other market conditions. Repurchases may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws.
Separately, the Company also provided background information with respect to filings with the Securities and Exchange Commission expected to be made by certain executive officers and directors. The Company acknowledged that certain executives and directors have notified the Company of their intent to exercise and hold a portion of their vested stock options. The Company expects that these executives and directors may sell shares to pay for the exercise price and the resulting tax liability. In addition, the Company has also been notified by certain executives of their intent to purchase Company shares in the open market.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The Company had $200 million remaining available under its share repurchase authorization as of June 6, 2012, and stock repurchases under the Company's share repurchase program may be made through open market transactions, negotiated purchases or otherwise, at times and in such amounts as management and a committee of the Board deem appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, financing and regulatory requirements and other market conditions. Repurchases may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws.
Separately, the Company also provided background information with respect to filings with the Securities and Exchange Commission expected to be made by certain executive officers and directors. The Company acknowledged that certain executives and directors have notified the Company of their intent to exercise and hold a portion of their vested stock options. The Company expects that these executives and directors may sell shares to pay for the exercise price and the resulting tax liability. In addition, the Company has also been notified by certain executives of their intent to purchase Company shares in the open market.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Tempur-Pedic (TPX) is Now 'Tempur Sealy International'
- Tempur-Pedic Completes Repricing Of Senior Secured Term B Facility
- NetApp (NTAP) Tops Q4 EPS by 1c; Boosts Buyback, Plans Job Cuts, Initiates Dividend
Create E-mail Alert Related Categories
Corporate News, Insider Trades, Stock BuybacksRelated Entities
Stock Buyback
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
