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Dec. 28, 2012 /PRNewswire/ -- Earlier this month, certain officers of The E.W. Scripps Company (NYSE: SSP) adopted stock trading plans in accordance with the guidelines specified by Rule 10b5-1 under the Securities and Exchange Act of 1934.
Rule 10b5-1 permits corporate officers, directors and others to adopt written, pre-arranged stock trading plans when they are not in possession of material, non-public information. These plans allow insiders to have shares sold for their accounts over a period of time regardless of any material, non-public information they may receive after adopting their plans.
The sale of Scripps shares under these trading plans is intended to help diversify the officers' personal investment holdings.
Bill Appleton, senior vice president and general counsel, has filed a plan to sell up to approximately 40,000 shares if certain criteria are met. Sales may commence on
April 1, 2013, and would be completed by
November 1, 2013.
Brian G. Lawlor, senior vice president, television, has filed a plan to sell up to approximately 35,000 shares and 13,000 shares underlying options if certain criteria are met. Sales of the shares may commence on
March 7, 2013, and would be completed by
December 31, 2013. Sales of the shares underlying options may commence on
January 30, 2013, and would be completed by
February 25, 2013.
Douglas F. Lyons, vice president and controller of the company, has filed a plan to sell up to approximately 42,000 shares underlying options if certain criteria are met. His program commenced on
December 17, 2012, and sales would be completed by
August 15, 2013.
Adam Symson, chief digital officer of the company, has filed a plan to sell up to approximately 6,000 shares if certain criteria are met. Sales under the plan may commence on
March 15, 2013, and would be completed by
June 28, 2013.
In accordance with 10b5-1 rules, the executives listed above will have no discretion over sales under their respective plans. All transactions under the plans will be disclosed through Form 144 and Form 4 filings with the Securities and Exchange Commission as required by applicable securities laws.