MILWAUKEE, May 27, 2014 /PRNewswire/ -- Briggs & Stratton Corporation (NYSE:BGG)
Briggs & Stratton Corporation (the "Company") today announced that Todd J. Teske, Chairman, President & Chief Executive Officer, has canceled his existing individual stock trading plan and entered into a new plan in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
Mr. Teske informed the Company that he intends to sell 69,696 shares 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 plan is to provide Mr. Teske with the ability to exercise his 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 Mr. Teske 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. RodgersSenior Vice President andChief Financial Officer Logo - http://photos.prnewswire.com/prnh/20120529/CG15020LOGO SOURCE Briggs & Stratton Corporation
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV