Maidenform executives intend to adopt Rule 10b5-1 trading plans
09 Aug '07
1 min read
Maidenform Brands Inc a global branded marketer of intimate apparel announced that its four executive officers have each informed the Company that they intend to establish separate stock trading plans in accordance with Rule 10b5- 1 of the Securities Exchange Act of 1934.
The four executives are Thomas Ward, Chief Executive Officer and Vice Chairman (100,000 shares); Maurice Reznik, President (42,860 shares); Dorvin Lively, Executive Vice President and Chief Financial Officer (42,860 shares); and Steven Masket, Executive Vice President, General Counsel and Secretary (20,000 shares).
The Maidenform executives have informed the Company that they are adopting the plans to diversify their personal financial portfolios, address charitable donation obligations and exercise options scheduled to expire on December 31, 2007.
In accordance with Rule 10b5-1, officers and directors of public companies may adopt plans for purchasing or selling securities in which the amount, price and date of the transactions are specified.
These plans may only be entered into when the officer or director is not in possession of material, nonpublic information.
marketing@alchempro.com
