KSW, Inc. (NASDAQGM:KSW) today announces that Floyd Warkol, its Chairman of the Board and Chief Executive Officer, has adopted a personal trading plan, which is intended to comply with Securities Exchange Act Rule 10b5-1, to exercise 105,000 stock options granted in 1995 under the Company’s Employee Stock Option Plan, and to sell 105,000 shares of common stock during the remainder of 2010.
Mr. Warkol, who has been Chairman of the Board and Chief Executive Officer since 1995, currently owns 750,386 shares of the Company’s common stock. The options, if not exercised, will expire on December 31, 2010.
Mr. Warkol commented that “I will continue to hold a substantial position in KSW as I believe strongly in our business and prospects for continued growth and profitability. I look forward to being part of the management that delivers those results.”
This trading plan, which will be managed by Morgan Stanley, is based on the Securities and Exchange Commission’s Rule 10b5-1, which protects company executives from possible claims of insider trading by permitting executives to buy or sell a predetermined amount of their company’s shares, as set forth in a planned acquisition or divestiture program which was adopted when the insider did not possess any material, non-public information. Transactions pursuant to the trading plan will be publicly disclosed through filings with the Securities and Exchange Commission in accordance with applicable laws, rules and regulations.
KSW, Inc., through its wholly-owned subsidiary, KSW Mechanical Services, Inc., furnishes and installs heating, ventilating and air conditioning (HVAC) systems and process piping systems for institutional, industrial, commercial, high-rise residential and public works projects. KSW Mechanical Services, Inc. also acts as Trade Manager on larger construction projects, such as the Mount Sinai Center for Science and Medicine.
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