Actuant Announces CEO's 10b5-1 Plan.MILWAUKEE -- Actuant Corporation (NYSE NYSE See: New York Stock Exchange :ATU (ADSL Transceiver Unit) A device that provides ADSL modulation of the telephone line. The device at the telco side is the ATU-C (Central), which is a line card plugged into the DSLAM. ) today announced today that Robert Arzbaecher, its Chairman and Chief Executive Officer, has adopted a prearranged trading Prearranged trading Possibly fraudulent practice whereby commodities dealers carry out risk-free trades at predetermined prices to acquire tax advantages. plan in accordance with guidelines specified by Rule 10b5-1 under the Securities Exchange Act of 1934 and the Company's policies with respect to insider sales. Rule 10b5-1 allows officers and directors of public companies, at a time when they are not aware of material nonpublic information Nonpublic information Information about a company that is not known by the general public, which will have a definite impact on the stock price when released. See: Insider trading. , 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 shares of company stock. Under his 10b5-1 plan, Mr. Arzbaecher will exercise stock options and sell up to 156,000 shares of Actuant common stock. The underlying options were granted in 1998 by Actuant's predecessor company, Applied Power Inc., and represent about 14% of Mr. Arzbaecher's total share holdings in either Actuant stock or stock options. These transactions may take place from time-to-time after October 18, 2006, subject to certain 10b5-1 plan criteria, including certain minimum price levels and daily volume activity. About Actuant Actuant, headquartered in Butler, Wisconsin, is a diversified industrial company with operations in more than 30 countries. The Actuant businesses are market leaders in highly engineered position and motion control systems and branded hydraulic and electrical tools and supplies. Since its creation through a spin-off in 2000, Actuant has grown its sales from $482 million to over $1.2 billion and its market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. from $113 million to over $1.5 billion. The Company employs a workforce of more than 6,300 worldwide. Actuant Corporation trades on the NYSE under the symbol ATU. For further information on Actuant and its business units, visit the Company's website at www.actuant.com. |
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