Universal Electronics (UEIC) Chairman/CEO Adopts 10b5-1 Trading Plan
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Universal Electronics Inc. (NASDAQ: UEIC) today announced Paul Arling, Chairman and CEO, has established a trading plan in accordance with Rule 10b5-1 of the Securities Exchange Act.
Under the plan, Arling intends to exercise up to 40,000 employee stock options, which are set to expire in January 2009, and to immediately sell the underlying shares of UEI common stock beginning immediately and continuing from time to time until the expiration date of the options, subject to the market price of our common stock. This process will facilitate the orderly exercise of employee stock options and the sale of common stock for personal financial planning purposes with the goal of minimizing any market impact and avoiding any concerns about the timing of the transactions.
In addition, outside of this plan, Arling intends to exercise up to 12,800 employee stock options that are also set to expire in January 2009 and hold the underlying shares of Universal Electronics Inc. common stock.
Universal Electronics, Inc. provides pre-programmed universal wireless control products and audio-video accessories for home entertainment systems.
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