Ulta Salon, Cosmetics & Fragrance's (ULTA) CEO Establishes Plan Under Rule 10b5-1
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Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ: ULTA) announced that its Chief Executive Officer, Lyn Kirby has established a plan under Rule 10b5-1 of the Securities and Exchange Act of 1934, as amended. Rule 10b5-1 enables security holders to adopt pre-arranged stock trading plans for the purchase or sale of predetermined amounts of securities on a non-discretionary basis when they do not possess material, non-public information.
The plan, effective for a term of approximately four months commencing on December 14, 2009, will allow Ms. Kirby to sell up to 900,000 shares of common stock. The maximum number of shares that may be sold during the term of the plan represents approximately 1.5% of the issued and outstanding common stock of the Company. The plan has been entered into for financial diversification and estate planning purposes with the goal of minimizing any market impact of this diversification.
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