BankUnited CEO Announces Stock Transaction.CORAL GABLES Coral Gables, city (1990 pop. 40,091), Miami-Dade co., SE Fla., SW of Miami; inc. 1925. Founded at the height of the Florida land boom, Coral Gables is a noted planned city, with tree-lined boulevards and Mediterranean-style buildings. , Fla. -- BankUnited Financial Corporation (Nasdaq:BKUNA) today reported that Chairman 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. Alfred R. Camner has sold 105,000 shares of BankUnited Class A Common Stock for estate and tax planning Tax planning Devising strategies throughout the year in order to minimize tax liability, for example, by choosing a tax filing status that is most beneficial to the taxpayer. purposes. Camner will retain beneficial ownership after the sale, of 742,216 shares of BankUnited Noncumulative Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". , Series B ("Series B Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. "), 320,274 shares of BankUnited Class B Common Stock and 2,916 shares of BankUnited Class A Common Stock. Camner also holds options to purchase 263,849 shares of Class A Common Stock, 394,000 shares of Class B Common Stock and 789,479 shares of Series B Preferred Stock. Camner indicates that, as a part of his estate and tax planning efforts, he may also decide to transfer some of his shares of BankUnited stock to his children during the coming year. "This is the first time that I have sold any of my BankUnited holdings," said Camner. "I was advised that this was appropriate for estate and tax planning purposes, and I intend to continue to hold a very substantial, long-term position in BankUnited's equity, reflecting my continued commitment to BankUnited and confidence in BankUnited's strategy and growth prospects." About BankUnited BankUnited Financial Corporation is the parent company of BankUnited FSB (FrontSide Bus) See system bus. FSB - front side bus , which, with $8.7 billion in assets, is the largest banking institution headquartered in Florida. Offering a full array of consumer and commercial banking products and services, BankUnited operates 50 banking offices throughout Miami-Dade, Broward, Palm Beach, Martin and Collier Counties. BankUnited can be accessed on the Internet at http://www.buexpress.com. BankUnited's Class A Common Stock trades on the NASDAQ National Market under the trading symbol Trading symbol See: Ticker symbol BKUNA. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This press release may contain certain forward-looking statements, which are based on management's expectations regarding factors that may impact the Company's earnings and performance in future periods. Words and phrases Words and Phrases® A multivolume set of law books published by West Group containing thousands of judicial definitions of words and phrases, arranged alphabetically, from 1658 to the present. such as: "will likely result," "expect," "will continue," "anticipate," "estimate," "project," "believe," "intend," "should," "may," "can," "could," "plan," "target" and similar expressions are intended to identify "forward-looking statements." Actual results or performance could differ from those implied or contemplated by such statements. Factors that could cause future results and performance to vary materially from current management expectations include, but are not limited to, general business and economic conditions, fiscal and monetary policies, war and terrorism, changes in interest rates, deposit flows, loan demand and real estate values; competition with other providers of financial products and services; the issuance or redemption of additional company equity or debt; volatility in the market price of our common stock; changes in accounting principles, policies or guidelines, changes in laws or regulation; reliance on other companies for products and services; and other economic, competitive, servicing capacity, governmental, regulatory and technological factors affecting the company's operations, pricing, products and delivery of services. |
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