CTS Chairman Announces Plan to Exercise Stock Options.Business Editors ELKHART, Ind.--(BUSINESS WIRE)--June 18, 2001 CTS (1) (Clear To Send) The RS-232 signal sent from the receiving station to the transmitting station that indicates it is ready to accept data. Contrast with RTS. (2) (Common Type System) The data typing used in . Corporation (NYSE NYSE See: New York Stock Exchange :CTS) announced today that Joseph P. Walker, Chairman of the Board and Chief Executive Officer, has established a plan to exercise stock options and sell certain shares of CTS common stock acquired on exercise in 2001, in accordance with Rule 10b5-1(c)(1) of the Securities Exchange Act of 1934. The options, granted in 1997, are fully vested. This plan provides a process to exercise the options in an orderly manner over a reasonable period of time. Under the plan, Mr. Walker has directed an unaffiliated broker to exercise options for up to 990,883 shares of CTS common stock and to sell that number of such option shares required to pay the purchase price, taxes and transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). associated with the option exercises. These shares will be sold at market prices subject to certain minimum price conditions. "I remain strongly confident in the future prospects of CTS, as evidenced by the fact that I plan to retain the shares issued on my option exercises except as required to generate sufficient proceeds to pay the option exercise price and related taxes and transaction costs," said Walker. Statements in this press release about the Company's earnings outlook and its plans, estimates and beliefs concerning the future are 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. , within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and are based on the Company's current expectations. Actual results may differ materially from those stated in the forward-looking statements due to a variety of factors which could affect the Company's operating results, liquidity and financial condition. We undertake no obligations to publicly update or revise any forward-looking statements. Factors that could impact future results include among others: the impact of the ongoing slowdown in the overall economy; the Company's successful execution of its consolidation and cost reduction plans; pricing pressures and demand for the Company's products, especially if economic conditions worsen or do not recover in the key markets for the Company's products; and risks associated with our international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. , including trade and tariff barriers, exchange rates and political risks. Investors are encouraged to examine the Company's SEC filings, which more fully describe the risks and uncertainties associated with the Company's business. CTS Corporation is a leading designer and manufacturer of electronic components and assemblies for the communications, computer and automotive markets. The Company manufacturers products in facilities in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe and Asia. The Company's stock is traded on the NYSE under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors "CTS." To find out more, visit the Company's website at www.ctscorp.com. Released by: R. L. Ramsby |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion