Sensient Technologies Corporation (NYSE: SXT) today announced that two of its elected officers (Messrs. Hobbs and Hammond) have each adopted a new SEC Rule 10b5-1 plan for trading Company stock. Each plan covers periodic sales of Sensient stock over the next year, starting in October 2012. Each plan was adopted during an authorized trading period when the officers were not in possession of material, non-public information. The transactions under the plans will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission.
Sales will occur during quarterly “window periods.” Anticipated sales each quarter by Mr. Hobbs and Mr. Hammond may total up to 12,000 shares and 7,000 shares, respectively, plus any “roll-overs” from prior periods where shares were not sold because of minimum price floors. The plans, which comply with the SEC Rule 10b5-1 safe harbor regarding insider trading, are motivated primarily by the executives’ desire to diversify their personal investments as they near eventual retirement.
Sensient Technologies Corporation is a leading global manufacturer and marketer of colors, flavors and fragrances. Sensient employs advanced technologies at facilities around the world to develop specialty food and beverage systems, cosmetic and pharmaceutical systems, inkjet and specialty inks and colors, and other specialty and fine chemicals. The Company’s customers include major international manufacturers representing most of the world’s best-known brands. Sensient is headquartered in Milwaukee, Wisconsin.