Universal Electronics (UEIC) Chairman Arling Enters Rule 10b5-1 Trading Plan
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Universal Electronics Inc. (UEI), (Nasdaq: UEIC) reports Paul Arling, chairman and chief executive officer, has established a new trading plan in accordance with Rule 10b5-1 of the Securities Exchange Act. Rule 10b5-1 permits individuals who are not then in possession of material nonpublic information to establish prearranged plans to buy or sell stock. The rule allows individuals to buy or sell shares of stock at a specific price in the future, regardless of any subsequent material nonpublic information.
Under the plan, Arling intends to exercise up to 50,000 employee stock options, which were granted in February 2002 and are set to expire in February 2012, and to sell the underlying shares of UEI common stock beginning November 16, 2011 and continuing from time to time until January 27, 2012, subject to the market price of the company’s common stock, all as set forth in his trading plan. 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.
Under the plan, Arling intends to exercise up to 50,000 employee stock options, which were granted in February 2002 and are set to expire in February 2012, and to sell the underlying shares of UEI common stock beginning November 16, 2011 and continuing from time to time until January 27, 2012, subject to the market price of the company’s common stock, all as set forth in his trading plan. 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.
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