Courier Corporation Executive Officers and Directors Adopt Rule 10b5-1 Trading Plans.NORTH CHELMSFORD, Mass. -- Courier Corporation (Nasdaq:CRRC CRRC Cool Roof Rating Council CRRC Combat Rubber Raiding Craft CRRC Caucasus Research Resource Center CRRC California Refuse Removal Council CRRC Chesapeake Regional Ranges Cooperative CRRC Construction Requirements Review Committee CRRC Combat Rigid Raiding Craft ), one of America's leading book manufacturers and specialty publishers, today announced that several of the Company's executive officers and directors have adopted prearranged pre·ar·range tr.v. pre·ar·ranged, pre·ar·rang·ing, pre·ar·rang·es To arrange in advance. pre stock trading plans in accordance with guidelines specified by Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. Rule 10b5-1 allows officers and directors to adopt written, pre-arranged stock trading plans at times when they 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. . Using these plans, insiders can gradually diversify their investment portfolios, and reduce market impact by spreading stock trades out over an extended period of time, while avoiding concerns about whether they were in possession of material nonpublic information when their stock was sold. Courier insiders who have adopted 10b5-1 plans at this time include, James F. Conway III, Chairman, President 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. ; Robert P. Story, Jr., Executive Vice President and COO; Peter M. Folger, Senior Vice President and CFO See Chief Financial Officer. ; Edward J. Hoff, Director; and Kathleen Foley Curley, Director. Under the plans adopted by these individuals, an aggregate of approximately 128,000 shares of Common Stock may be sold during the period April 2007 through December 2007. The total shares to be sold by these individuals represent approximately 10% of their total holdings in Courier stock, exclusive of any outstanding options. If all of the shares contemplated under these plans are sold in 2007, this group of insiders collectively will continue to own approximately 1,205,000 shares, or 9.6% of the total outstanding shares of the Company. These insiders have adopted these plans as part of their ongoing personal programs for managing options expiration, financial diversification Diversification is a risk management technique that mixes a wide variety of investments within a portfolio in order to minimize the impact that any one security will have on the overall performance of the portfolio. Diversification lowers the risk of your portfolio. , tax management and 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 . In addition, the James F. Conway, Jr. Trust adopted a plan to sell a total of 200,000 shares of Common Stock during the period February 2007 through December 2007. To date, 59,300 shares have been sold pursuant to the trading plan. Grace R. Conway, age 80, is the beneficiary of the Trust. If all of the shares contemplated under this plan are sold in 2007, the Trust will continue to own 334,111 shares, or 2.7% of the total outstanding shares of the Company. About Courier Corporation Courier Corporation prints, publishes and sells books. Headquartered in North Chelmsford, Massachusetts North Chelmsford is a part of the U.S. town of Chelmsford, Massachusetts. Although North Chelmsford has its own zip code, library, post office, police station, fire station, and local calling area, it is run by the same local town government and is part of the same school district , Courier has two business segments, full-service book manufacturing and specialty book publishing book publishing. The term publishing means, in the broadest sense, making something publicly known. Usually it refers to the issuing of printed materials, such as books, magazines, periodicals, and the like. . For more information, visit www.courier.com. This news release includes 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. . Statements that describe future expectations, plans or strategies are considered "forward-looking statements" as that term is defined 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 and releases issued by the Securities and Exchange Commission. The words "believe", "expect", "anticipate", "intend", "estimate" and other expressions which are predictions of or indicate future events and trends and which do not relate to historical matters identify forward-looking statements. Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those currently anticipated. Factors that could affect actual results include, among others, changes in customers' demand for the Company's products, including seasonal changes in customer orders, changes in raw material costs and availability, pricing actions by competitors, consolidation among customers and competitors, success in the integration of acquired businesses, changes in operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. including energy costs, changes in technology, difficulties in the start up of new equipment or information technology systems, changes in copyright laws, changes in tax regulations, changes in the Company's effective income tax rate, and general changes in economic conditions, including currency fluctuations and changes in interest rates. Although the Company believes that the assumptions underlying the forward-looking statements are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements will prove to be accurate. The forward-looking statements included herein are made as of the date hereof, and the Company undertakes no obligation to update publicly such statements to reflect subsequent events or circumstances. |
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