InterDigital Executives and Directors Adopt 10b5-1 Trading Plans; Prearranged Trading Plans Will Govern Limited Stock Transactions In 2002.Business Editors/Hi-Tech Writers KING OF PRUSSIA King of Prussia, industrialized suburban area (1990 pop. 18,406), Montgomery co., SE Pa. It has glass and steel fabricating, food processing, printing and publishing, and varied manufacturing (textiles, liquified petroleum gas, water-treatment and electrical , Pa.--(BUSINESS WIRE)--April 30, 2002 InterDigital interdigital between two digits. interdigital cysts see interdigital pyoderma, pododermatitis. interdigital dermatitis 1. the early lesion in the development of infectious footrot in sheep; called also sheep scald. Communications Corporation (Nasdaq:IDCC IDCC Integrated Dual-use Commercial Companies ), a leading architect, designer and provider of advanced wireless technologies and product platforms, today announced that certain members of its executive management team and Board of Directors have adopted limited stock trading plans structured in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934 and the Company's insider trading policy. These individuals include: Harry Campagna, Chairman of the Board; Rich Fagan, Executive Vice President and Chief Financial Officer; Howard Goldberg, President, Chief Executive Officer and Director; Brian Kiernan, Senior Vice President, Standards; Mark Lemmo, Executive Vice President, Product Management; Bill Merritt, Executive Vice President, General Patent Counsel and President of InterDigital Technology Corporation; and Rip Tilden, Executive Vice President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . Rule 10b5-1 allows corporate insiders to establish prearranged trading Prearranged trading Possibly fraudulent practice whereby commodities dealers carry out risk-free trades at predetermined prices to acquire tax advantages. plans to govern the sale of a specified number or dollar amount of shares of company stock over a 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: period of time. InterDigital's Board of Directors further limits officers, directors and other insiders by only permitting the adoption of Rule 10b5-1 trading plans for the sale of shares associated with the exercise of options and warrants that expire within twelve months of a plan adoption and for selling of shares issued under the Company's restricted stock plan. In connection with the Company's restricted stock plan, participants incur an immediate tax liability when restricted stock and restricted stock units Restricted stock units Similar to restricted stock. However, the unit represents a promise that employees will receive stock in the future. The units do not pay dividends until the stock is vested. vest. The number of shares proposed to be sold under Rule 10b5-1 plans by these seven individuals is less than 137,000 shares, representing approximately 5% of their anticipated aggregate holdings at the time of sale. The transactions are planned to occur between June and the end of 2002. Certain other officers, directors or persons subject to InterDigital's insider trading policy may also adopt trading plans in accordance with Rule 10b5-1. "Similar to other public companies, we expect our executives to periodically benefit from Company stock-based incentive and compensation programs that tie management's interests to those of our shareholders," said Harry Campagna, Chairman of the Board. "Adopting limited 10b5-1 plans for predetermined transactions will eliminate potential market speculation regarding the timing or motives of executives as they realize the benefits of stock-based compensation. Our executives also continue to increase their stock ownership in InterDigital through regular purchases and participation in our Employee Stock Purchase and 401(k) Plans." InterDigital architects, designs and provides advanced wireless technologies and products that drive voice and data communications. The Company offers technology and product solutions for mainstream wireless applications that deliver cost and time-to-market advantages for its customers. InterDigital has a strong portfolio of patented TDMA (Time Division Multiple Access) A satellite and cellular phone technology that interleaves multiple digital signals onto a single high-speed channel. For cellular, TDMA triples the capacity of the original analog method (FDMA). , GSM/GPRS, EDGE and CDMA (Code Division Multiple Access) A method for transmitting simultaneous signals over a shared portion of the spectrum. The foremost application of CDMA is the digital cellular phone technology from QUALCOMM that operates in the 800 MHz band and 1.9 GHz PCS band. inventions, which it licenses worldwide. For more information, please visit InterDigital's web site: www.interdigital.com. InterDigital is a registered trademark of InterDigital Communications Corporation. |
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