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RealPage Chairman And Chief Executive Officer Adopts Rule 10b5-1 Trading Plan

RealPage, Inc. (Nasdaq:RP), a leading provider of on-demand software and software-enabled services to the rental housing industry, today announced that Steve Winn, Chairman and CEO of RealPage, and his affiliates adopted a pre-arranged stock trading plan in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934 and RealPage’s policies regarding stock transactions. Mr. Winn and his affiliates adopted a pre-arranged stock trading plan on June 14, 2012, which will expire September 16, 2013, prior to any sales under the new Rule 10b5-1 trading plan.

The new Rule 10b5-1 trading plan was adopted to enable Mr. Winn and his affiliates to sell a portion of their RealPage stock over time as part of Mr. Winn’s long-term strategy for asset diversification and liquidity. The transactions under the Rule 10b5-1 trading plan will be disclosed publicly through Form 4 filings with the Securities and Exchange Commission. Utilizing this type of trading plan, Mr. Winn can gradually diversify his investment portfolio, spreading stock trades out over an extended period of time and reducing market impact. In addition, as a result of being established well in advance of a potential trade, the Rule 10b5-1 trading plan helps avoid concerns as to whether Mr. Winn or his affiliates had material, non-public information when a decision is made to sell stock.

Mr. Winn and his affiliates currently hold 26,702,081 shares of common stock, which represents approximately 34.74% of RealPage’s outstanding capital stock. Mr. Winn and his affiliates intend to sell approximately 2,040,000 shares under the Rule 10b5-1 trading plan over 12 months as part of a diversification plan. If all sales under the new Rule 10b5-1 trading plan are conducted, Mr. Winn and his affiliates will collectively retain approximately 92.4% of their current holdings of RealPage stock. For purposes of calculating Mr. Winn and his affiliates’ percentage ownership, stock options exercisable within 60 days after June 14, 2013 are included but not the stock options of any other person or group.

Stock quotes in this article: RP 

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