MILWAUKEE, March 3, 2014 /PRNewswire/ -- Briggs & Stratton Corporation (NYSE: BGG)
Briggs & Stratton Corporation (the "Company") today announced that Todd J. Teske, Chairman, President and Chief Executive Officer, and Joseph C. Wright, Senior Vice President and President - Engines Group, have entered into individual stock trading plans in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
Messrs. Teske and Wright informed the Company that under their trading plans they intend to sell 30,000 shares and 9,400 shares, respectively, of Company common stock that would be issued as a result of the exercise of stock options that will expire in August 2014. The purpose of the plans is to provide these executive officers with the ability to exercise their expiring options and sell the underlying Company common stock in an orderly manner and avoid concerns about the timing of the transactions.The amount that the executives may realize from the exercise of any options will be the number of options exercised multiplied by the amount by which the net selling prices of the Company's stock on the dates the stock options are exercised exceed the exercise prices of the stock options. Other Company executives may from time to time adopt Rule 10b5-1 plans. David J. Rodgers Senior Vice President and Chief Financial Officer SOURCE Briggs & Stratton Corporation