Celadon Group Chairman and Chief Executive Officer Enters Into Zero-Cost Collar Transaction.INDIANAPOLIS -- Celadon celadon Chinese, Korean, Siamese, and Japanese stoneware decorated with glazes the colour range of which includes greens of various shades, olive, blue, and gray. The colours are the result of a wash of slip (liquefied clay) containing a high proportion of iron that is Group, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CLDN CLDN Calling Line Directory Number CLDN Claudin (gene family) ) announced today that Stephen Russell
Stephen Russell is a voice actor, most known for his voice acting in the Thief game series as the protagonist Garrett. , the Company's Chairman and Chief Executive Officer, has entered into a zero cost collar Zero Cost Collar A type of positive-carry collar that secures a return through the purchase of a cap and sale of a floor. Also called "zero cost options" or "equity risk reversals. transaction involving about 22% of his shares. Mr. Russell stated: "My level of commitment to the Company, and my degree of confidence in its future, are very high, which is why I focused on a collar strategy that will allow me to keep these shares and participate in a substantial portion of future price appreciation. A meaningful part of my net worth is invested in Celadon's common stock. I have been extremely happy with that investment over the past several years, and I remain optimistic about the future. Moreover, with the recent grant of 225,000 shares under stock options and restricted stock, my incentive to create value has only increased. The 262,500 shares covered by the collar are 22% of my total stock and stock option holdings, enabling me to retain approximately 939,000 additional shares and options. "With a meaningful portion of my net worth concentrated in equities, a member of our bank group suggested that I consider ways to protect against the potential of a market event or decline in share price. Because of my desire to retain my Celadon shares and continue to have a meaningful upside opportunity, a zero cost collar was identified as a logical choice. Under the collar, I will benefit from any future appreciation in Celadon's stock price, up to an agreed amount, over the next two years. The collar will also provide protection against price decreases greater than a negotiated threshold. At expiration, the collar will be settled in cash." Founded in 1985, Celadon Group Inc. (www.celadongroup.com) is a truckload carrier Merrian-Webster online dictionary defines truckload as " a load or amount that fills or could fill a truck". A truckload carrier is a trucking company that generally contracts an entire trailer-load to a single customer. headquartered in Indianapolis that operates in the U.S., Canada and Mexico. Celadon also owns TruckersB2B Inc. (www.truckersb2b.com) which provides cost savings to about 20,000 member fleets. Celadon is traded on the Nasdaq 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 CLDN and is a component of the Russell Microcap Index. |
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