bebe stores, inc. Chairman Renews Rule 10b5-1 Trading Plan.BRISBANE, Calif. -- bebe stores bebe stores (pronounced bee-bee) is an American clothing retailer founded in 1976 by the Iranian-born Manny Mashouf, who emigrated to the United States in the early 70s and opened the first bebe store in San Francisco. "Bebe" is the Persian word for "queen. , inc. (Nasdaq:BEBE) today announced that its Chairman, Manny Mashouf Manny Mashouf is an Iranian-born American businessman. He came to the USA in his teens and settled in San Francisco. There, he went to San Francisco State University and graduated with a political science degree in 1966. He is the founder and present chairman of bebe stores. , has decided to renew his pre-arranged stock trading plan to sell a portion of his company stock over time as part of his individual long-term strategy for asset diversification and liquidity. The stock trading plan is adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities and Exchange Act of 1934 and bebe's policies regarding stock transactions. Rule 10b5-1 allows corporate officers and directors to adopt written, pre-arranged stock trading plans when they do not have material, non-public information. Using these plans, insiders can gradually diversify their investment portfolios, can spread stock trades out over an extended period of time to reduce any market impact and can avoid concerns about whether they had material, non-public information when they sold their stock. Under his Rule 10b5-1 Plan, Mr. Mashouf may sell up to 2,700,000 shares over a period of approximately ten months. If Mr. Mashouf completes all the planned sales of shares under his Rule 10b5-1 Plan, he would beneficially own approximately 65,000,000 shares (approximately 71%) of bebe's outstanding stock. The transactions under the plan will commence no earlier than February 6, 2006 and will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission. The Form 4 filings will also be posted on bebe's investor relations Investor relations The process by which the corporation communicates with its investors. website. bebe stores, inc. designs, develops and produces a distinctive line of contemporary women's apparel and accessories, which it markets under the bebe, BEBE SPORT and bebe O brand names. bebe currently operates 229 stores, of which 173 are bebe stores, 20 are bebe outlet stores An outlet store or factory outlet is a retail store in which manufacturers sell their stock directly to the public through their own branded stores. The stores can be can be brick and mortar or online. and 36 are BEBE SPORT stores. These stores are located in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. and Canada. In addition, we have an online store at www.bebe.com. |
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