YRC Worldwide Inc. today announced that Bill Zollars, Chairman, President
and CEO of YRC Worldwide, has adopted a stock trading plan ("the plan") in
accordance with Rule 10b5-1 of the Securities Act of 1934. Mr. Zollars'
plan is a component of his overall tax and financial planning strategy that
is designed to provide enhanced diversification and liquidity.
Rule 10b5-1 enables corporate officers and directors to establish stock
trading plans for the orderly sale of predetermined amounts of securities.
Such plans may be initiated only when the officers and directors are not in
possession of material, non-public information. The rule allows individuals
adopting such plans to sell shares over a specified amount of time, at
specific prices in the future, even if subsequent material, non-public
information becomes available to them.
Under the provisions of Mr. Zollars' plan, up to 104,465 of the 154,465
stock options he currently holds may be exercised and sold. Mr. Zollars'
beneficial ownership of 213,058 shares of YRC Worldwide common stock is
unaffected. Any transactions executed under the provisions of the plan,
which is effective for approximately five months, will be reported through
Form 4 filings with the Securities and Exchange Commission.
No comments:
Post a Comment