ADC's President And CEO Adopts Rule 10b5-1 Stock Trading Plan.MINNEAPOLIS -- ADC (1) See A/D converter. (2) (Apple Display Connector) A peripheral connector from Apple that combines digital video display, USB and power in one cable. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ADCT ADCT Adaptive Discrete Cosine Transform , www.adc.com) announced today that Robert E. Switz, the company's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , has adopted a Rule 10b5-1 stock trading plan as part of his personal financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against strategy. Under this plan, he intends to exercise and sell the shares underlying a portion of the ADC employee stock options that have been granted to him over time. Such sales would be Mr. Switz's first open market sale of ADC stock since 1999. Any shares that are sold under the plan will be sold in accordance with Rule 10b5-1 under the Securities and Exchange Act of 1934, and the company's policies with respect to insider sales. Rule 10b5-1 permits officers and directors of public companies to adopt predetermined pre·de·ter·mine v. pre·de·ter·mined, pre·de·ter·min·ing, pre·de·ter·mines v.tr. 1. To determine, decide, or establish in advance: plans for selling specified amounts of stock. Such plans may be used to gradually diversify investment portfolios over a period of time. The total number of ADC options to be exercised and shares to be sold under the 10b5-1 plan is up to 75,000. This represents less than ten percent of Mr. Switz's current ADC holdings, which is comprised of stock, as well as restricted stock, restricted stock units Restricted stock units Similar to restricted stock. However, the unit represents a promise that employees will receive stock in the future. The units do not pay dividends until the stock is vested. and stock options, some of which are currently unvested. The plan specifies that the intended transactions would commence on or after March 31, 2006 if a designated minimum market price for ADC stock is then available. The plan will expire by its terms on December 31, 2006, unless all the shares subject to the plan are sold prior to that time. Any trades made pursuant to this plan will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission. About ADC ADC provides the connections for wireline, wireless, cable, broadcast, and enterprise networks around the world. ADC's innovative network infrastructure equipment and professional services enable high-speed Internet, data, video, and voice services to residential, business and mobile subscribers. ADC (NASDAQ:ADCT) has sales into more than 140 countries. Learn more about ADC at www.adc.com |
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