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CEO of Spire Corporation Adopts a 10b5-1 Plan.


BEDFORD, Mass. -- Spire Corporation (Nasdaq: SPIR SPIR Symmetric Private Information Retrieval
SPIR Spectroscopie Dans le Proche Infrarouge (French: Near Infrared Reflectance Spectroscopy)
SPIR Spare Parts List and Interchangeability Record
), today announced that its founder 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. , Roger G. Little, has entered into a trading plan pursuant to Rule 10b5-1 of the Securities Exchange Act of 1934 under which he intends to sell up to 270,000 shares of the Company's stock at certain 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:
 price levels during the 12 month period beginning on September 19, 2005. The sales will occur from time to time and will be under the direction of a broker. Appropriate filings reporting the sales will be made with the Securities and Exchange Commission when they are due. Mr. Little and his family trust currently own or control a total of approximately 2.4 million shares of the Company, which represents approximately 34% of the outstanding shares of Spire Corporation. Mr. Little founded Spire Corporation in 1969. He will become 65 years old on September 28, 2005.

Mr. Little commented, "This decision is not related to my views on the value of the Company or its prospects, as I am optimistic op·ti·mist  
n.
1. One who usually expects a favorable outcome.

2. A believer in philosophical optimism.



op
 about the future of Spire. I am adopting the 10b5-1 plan on the recommendation of my financial advisor as a way of achieving prudent diversification of my concentrated position without causing undue concern in the investment community or employee base. I believe that entering into a trading plan to sell these shares in an orderly fashion is the most effective way for me to accomplish this objective."

The plan adopted by Mr. Little complies with the requirements of Rule 10b5-1, which permits officers and directors of public companies to adopt written plans and to sell specified amounts of their company's stock at future dates, regardless of any material non-public information they may receive after adopting the plan. Such plans establish pre-determined trading parameters for transactions to automatically take place without the exercise of any subsequent influence by the person adopting the plan. Plans permitted under the rule allow the officer or director to minimize the market effect of sales by spreading them over a more extended period than the traditional "trading windows" permitted under the typical insider trading policies, and also help prevent them from being prohibited pro·hib·it  
tr.v. pro·hib·it·ed, pro·hib·it·ing, pro·hib·its
1. To forbid by authority: Smoking is prohibited in most theaters. See Synonyms at forbid.

2.
 from selling any shares for long period of time due to 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.
 they may possess.

About Spire Corporation

Spire Corporation is a diversified technology company providing innovative solar energy solar energy, any form of energy radiated by the sun, including light, radio waves, and X rays, although the term usually refers to the visible light of the sun.  manufacturing equipment, biomedical bi·o·med·i·cal
adj.
1. Of or relating to biomedicine.

2. Of, relating to, or involving biological, medical, and physical sciences.
 devices and optoelectronic components, all based upon a common technology platform. For more information, visit www.spirecorp.com.

Certain matters described in this news release may be 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.
 subject to risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements. Such risks and uncertainties include, but are not limited to, the risk of dependence on market growth, competition and dependence on government agencies and other third parties for funding contract research and services, as well as other factors described in the Company's Form 10-KSB filed with the Securities and Exchange Commission.
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Article Details
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Publication:Business Wire
Geographic Code:1USA
Date:Sep 16, 2005
Words:491
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