Universal Stainless & Alloy Products (USAP) Chairman Adopts Trading Plan
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Universal Stainless & Alloy Products, Inc. (Nasdaq: USAP) today announced that its Chairman, Clarence McAninch, has adopted a pre-arranged, non-discretionary stock trading plan to sell the stock issuable upon the exercise of Mr. McAninch's stock options.
The stock trading plan is designed to permit systematic sales by Mr. McAninch over time as part of his individual long-term strategy for asset diversification and estate planning. The stock trading plan was adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities and Exchange Act of 1934, as amended, and the Company's policies regarding stock transactions by insiders.
Universal Stainless & Alloy Products, Inc., together with its subsidiaries, engages in the manufacture and marketing of semi-finished and finished specialty steel products, including stainless steel, tool steel, and other alloyed steels in the United States. [bcs]
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