Actuant Corporation (NYSE: ATU) today announced that certain of its executives have adopted prearranged trading plans in accordance with guidelines specified by Rule 10b5-1 under the Securities Exchange Act of 1934 and the Company's policies with respect to insider sales. Rule 10b5-1 allows officers and directors of public companies, at a time when they are not aware of material nonpublic information, to adopt predetermined plans for selling shares of company stock.
Pursuant to the 10b5-1 plans, the executives (Arzbaecher, Goldstein, Kobylinski, Lampereur) will be exercising stock options and immediately selling the shares of Actuant stock because the underlying options are approaching the end of their 10 year term. In addition, Arzbaecher and Boel plan to sell certain shares held outright. The transactions may take place from time-to-time on or after April 5, 2012, subject to certain 10b5-1 plan criteria, including certain minimum price levels and daily volume activity.
The stock is being sold for personal financial planning purposes including portfolio diversification as a large portion of each executive’s net worth is in the form of Actuant stock. The executives are, and will continue to be, in compliance with Actuant’s officer stock ownership requirements.
About Actuant Corporation
Actuant Corporation is a diversified industrial company with operations in more than 30 countries. The Actuant businesses are leaders in a broad array of niche markets including branded hydraulic and electrical tools and supplies; specialized products and services for energy markets and highly engineered position and motion control systems. The Company was founded in 1910 and is headquartered in Menomonee Falls, Wisconsin. Actuant trades on the NYSE under the symbol ATU. For further information on Actuant and its businesses, visit the Company's website at