Yellow Roadway Corp. today said Bill Zollars, chairman, president and CEO, has adopted a stock trading plan.
Rule 10b5-1 of the Securities Act of 1934 enables corporate officers and directors to establish stock trading plans for the orderly sale of predetermined amounts of securities..
Overland Park-based Yellow said Zollars’ plan is a component of his overall tax and financial planning strategy that is designed to provide enhanced diversification and liquidity. The plan is effective for approximately three months.
Under the provisions of the plan up to 117,860 of the 272,325 stock options Zollars currently holds may be exercised and sold. Zollars’s ownership of 134,360 shares of Yellow Roadway common stock is unaffected.
At midday, Yellow Roadway shares were up 22 cents at $49.20. Shares have traded in a 52-week range of $38.81 to $64.47.