CBRL Group, Inc. Executives Establishing Stock Plans.Business Editors LEBANON Lebanon, country, Asia Lebanon (lĕb`ənən, –nŏn'), officially Republic of Lebanon, republic (2005 est. pop. 3,826,000), 4,015 sq mi (10,400 sq km), SW Asia. , Tenn.--(BUSINESS WIRE)--Dec. 1, 2003 CBRL CBRL CBRL Group, Inc (stock symbol) CBRL Council for British Research in the Levant (UK) Group, Inc. (Nasdaq:CBRL) (the "Company") announced today that certain members of its senior management team are establishing stock trading plans under Rule 10b5-1 of the Securities Exchange Act of 1934. In October October: see month. 2000, the Securities and Exchange Commission ("SEC") adopted Rule 10b5-1, which permits individuals who are not in possession 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 establish prearranged pre·ar·range tr.v. pre·ar·ranged, pre·ar·rang·ing, pre·ar·rang·es To arrange in advance. pre plans to buy or sell company stock. The rule allows individuals adopting such plans to sell shares pursuant to the established plan over a specified period of time or at a specific price in the future, regardless of any subsequent material nonpublic information they receive. Although not required to disclose the existence of such plans under current SEC regulations, the Company has opted to do so with respect to plans adopted by its three most senior executive officers at the holding company, CBRL Group, Inc., the Chairman of the Board, the Chief Executive Officer and the Chief Financial Officer. The Company made this decision to provide timely disclosure of the nature of the transactions of these senior executive officers. Information on transactions in the Company's securities by all of its executive officers is available within two business days on the Company's website (www.cbrlgroup.com) and on the SEC's website (www.sec.gov). Dan W. Evins, the Company's Chairman of the Board, entered into a Rule 10b5-1 trading plan on November 24, 2003, at which time Mr. Evins held vested vested adj. referring to having an absolute right or title, when previously the holder of the right or title only had an expectation. Examples: after 20 years of employment Larry Loyal's pension rights are now vested. (See: vest, vested remainder) stock options to purchase 387,250 shares that are scheduled to expire expire /ex·pire/ (ek-spi´er) 1. to exhale. 2. to die. ex·pire v. 1. To breathe one's last breath; die. 2. To exhale. at various times between 2009 and 2011. He has indicated that, under his trading plan, these options will be exercised and the shares issued upon exercise of the option will be sold for his account during the term of the plan. Mr. Evins currently owns 100,000 shares, and, upon establishing his plan, had options to acquire an additional 423,527 shares, including the 387,250 shares covered by his plan. Mr. Evins has indicated that he entered into his plan for personal portfolio diversification Portfolio diversification Investing in different asset classes and in securities of many issuers in an attempt to reduce overall investment risk and to avoid damaging a portfolio's performance by the poor performance of a single security, industry, (or country). , tax and retirement planning Retirement financial planning refers to a collection of systems, methods, and processes which, in their aggregate, support a family unit's (client's) desire to achieve a state of financial independence, such that the need to be gainfully employed is optional. purposes. Michael A. Woodhouse, the Company's President and Chief Executive Officer, expects to enter into a Rule 10b5-1 trading plan in the near future. Mr. Woodhouse holds a vested stock option to purchase 62,871 shares that is scheduled to expire in March 2004. He has indicated that, under his trading plan, this option will be exercised and all but 10,000 of the shares issued upon exercise of the option will be sold for his account during the term of his plan. Mr. Woodhouse has indicated that he intends to keep 10,000 shares obtained upon exercise of the option in his personal investment account at the present time. Mr. Woodhouse currently owns an additional 57,300 shares, and has options to acquire an additional 744,255 shares, including the 62,871 shares covered by his plan. Lawrence E. White, the Company's Senior Vice President and Chief Financial Officer, entered into a Rule 10b5-1 trading plan on December 1, 2003. Mr. White holds a vested stock option to purchase 33,104 shares that is scheduled to expire in March 2004. He has indicated that, under his trading plan, this option will be exercised, and all but 5,000 of the shares issued upon exercise of the option will be sold for his account during the term of his plan. Mr. White has indicated that he intends to keep 5,000 shares obtained upon exercise of the option in his personal investment account at the present time. Mr. White currently owns an additional 5,000 shares, and has options to acquire an additional 155,036 shares, including the 33,104 shares covered by his plan. The information in this press release is based upon information provided to the Company, including copies of trading plans entered into by certain of its executives. In addition to Messrs. Evins, Woodhouse and White, other executive officers of CBRL Group, Inc. may enter into Rule 10b5-1 trading plans from time to time in the future, or may otherwise exercise options and sell the shares issued thereunder. The Company does not intend to make announcements with respect to those other officers, although, as indicated above, information about their transactions will be posted on the Company's and the SEC's websites. Headquartered in Lebanon, Tennessee
Lebanon is a city in Wilson County, Tennessee, in the United States. The population was 20,235 at the 2000 census. , CBRL Group, Inc. presently operates 486 Cracker Barrel This article is about the restaurant-and-store chain. For the unrelated company marketing cheeses bearing the "Cracker Barrel" trademark, see Kraft Foods. Cracker Barrel Old Country Store, Inc. Old Country Store restaurants and gift shops located in 41 states and 101 company-operated and 17 franchised Logan's Roadhouse Logan's Roadhouse is a chain of restaurants that was founded in 1991, and in 1999 became a wholly owned subsidiary of the publicly held CBRL Group, Inc (which also owns Cracker Barrel). restaurants in 17 states. |
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