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Red Hat CEO to Adopt Stock Trading Plan In January

Stock Trading Plan to eb Adopted for Personal Tax, Asset Diversification and Financial Planning Reasons
By Red Hat News Desk
Article Rating:
December 28, 2005 07:00 AM EST
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 4,240

Red Hat has announced that, for personal tax, asset diversification and financial planning reasons, its Chief Executive Officer, Matthew Szulik, plans to enter into a Rule 10b5-1 stock trading plan with respect to the Company's common stock and also to engage in transactions in the Company's common stock outside of the stock trading plan, in January 2006. Sales effected outside of the stock trading plan in January 2006, plus the maximum sales effected pursuant to the stock trading plan, are in the aggregate expected to constitute not more than approximately 27% of the shares of Company's common stock that Mr. Szulik beneficially owns.

Mr. Szulik, who has been the Chief Executive Officer of the Company for over six years and a senior executive since 1998, stated, "These arrangements will permit me to engage in diversification of my personal investment portfolio in an orderly manner and facilitate additional personal financial and tax planning."

Rule 10b5-1 allows corporate officers and directors to adopt written, pre-arranged stock trading plans. These plans can be used to diversify portfolios and to spread trades over a period of time. So long as such a plan is adopted at a time when the seller does not have material, non-public information, the transactions called for under the trading plan will be deemed not to have been made on the basis of material non-public information.

Red Hat also announced that certain of its other executive officers plan to enter into Rule 10b5-1 stock trading plans and may also engage in transactions in the Company's common stock outside of such plans.


Published December 28, 2005 – Reads 4,240
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SYS-CON Italy News Desk 12/28/05 08:04:22 AM EST

Red Hat has announced that, for personal tax, asset diversification and financial planning reasons, its Chief Executive Officer, Matthew Szulik, plans to enter into a Rule 10b5-1 stock trading plan with respect to the Company's common stock and also to engage in transactions in the Company's common stock outside of the stock trading plan, in January 2006. Sales effected outside of the stock trading plan in January 2006, plus the maximum sales effected pursuant to the stock trading plan, are in the aggregate expected to constitute not more than approximately 27% of the shares of Company's common stock that Mr. Szulik beneficially owns.
linuxworld news desk 12/28/05 12:47:19 AM EST

Red Hat has announced that, for personal tax, asset diversification and financial planning reasons, its Chief Executive Officer, Matthew Szulik, plans to enter into a Rule 10b5-1 stock trading plan with respect to the Company's common stock and also to engage in transactions in the Company's common stock outside of the stock trading plan, in January 2006. Sales effected outside of the stock trading plan in January 2006, plus the maximum sales effected pursuant to the stock trading plan, are in the aggregate expected to constitute not more than approximately 27% of the shares of Company's common stock that Mr. Szulik beneficially owns.