Click Commerce CEO Completes Stock Sale.CHICAGO -- Click Commerce, Inc., (Nasdaq:CKCM), a leading provider of on-demand supply chain management solutions, announced today that its 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. , Michael W. Ferro, Jr., has completed the sale of 275,000 shares of the Company's common stock in an open market transaction in accordance with SEC Rule 144. Mr. Ferro indicated that he intended to use the sale proceeds for estate planning Estate Planning The overall planning of a person's wealth, including the preparation of a will and the planning of taxes after the individual's death. Notes: Contrary to popular belief, estate planning involves much more than preparing a will, and it is not only for the , liquidity management and asset diversification purposes. Mr. Ferro has advised the Company that he has no plans for any additional stock sales and that he does not anticipate any other similar transactions during 2006. The shares sold comprised less than 10 percent of Mr. Ferro's ownership interest in the Company and were the first shares of the Company's common stock sold by Mr. Ferro since the Company's initial public offering and listing on the NASDAQ National Market in June 2000. 200,000 of the shares sold had been acquired by Mr. Ferro in 2003 upon exercise of employee stock options in furtherance fur·ther·ance n. The act of furthering, advancing, or helping forward: "Pakistan does not aspire to any . . . role in furtherance of the strategies of other powers" Ismail Patel. of the Company's plan to maintain compliance with NASDAQ listing requirements Listing requirements Requirements, including minimum shares outstanding, market value, and income, that are laid down by an exchange for any stock to be listed for trading. , and Mr. Ferro had received the balance when the Company was founded in 1996. After the transaction, Mr. Ferro retains approximately 2.5 million shares of the Company's common stock and remains its largest shareholder, owning approximately 22 percent of its fully-diluted common stock. Information Concerning Forward-Looking Statements Information contained in this release that are not historical facts and refer to the Company's future operations are forward-looking statements under 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. Such statements involve expectations, beliefs, hopes, plans or strategies regarding the future. These statements are subject to risks and uncertainties and actual results may differ materially from those indicated by these forward-looking statements. Factors which could cause or contribute to such differences include, but are not limited to: success of our suite of applications, impact of acquisitions or investments in other companies, general economic trends, introduction of new products or services by competitors, and security risks and regulation related to the Internet. We refer you to the risk factors listed in our annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , quarterly reports on Form 10-Q Form 10-Q See 10-Q. and other filings, which are on file with the SEC. In addition, Click Commerce assumes no obligation to update statements made in this press release. About Click Commerce, Inc. Click Commerce, Inc., (Nasdaq:CKCM), a leading provider of on-demand supply chain management solutions, enables millions of users in 70 countries to collaborate, in real time, with business partners across the extended enterprise. Click Commerce solutions support the unique business processes of multiple industry segments such as manufacturing, aerospace and defense, and high-tech. Click Commerce enables corporations including Alaska Airlines Alaska Airlines, (NYSE: ALK) is an airline based in Seattle, Washington, United States. It operates hubs at Seattle-Tacoma International Airport, Ted Stevens Anchorage International Airport, Los Angeles International Airport, and Portland International Airport. , BASF BASF Bar Association of San Francisco (since 1872; San Francisco, California) BASF Badische Anilin und Soda Fabrik (German chemical products company) BASF Builders Association of South Florida , Citibank, Eastman Kodak Company, Jabil Global Services, Microsoft, Pier 1, Ryder, and Verizon to coordinate and optimize business processes, accelerate revenue, lower costs, and improve customer service. More information can be found at www.clickcommerce.com. |
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