Summary
This 8-K filing from priceline.com Incorporated (now Booking Holdings Inc.) on March 13, 2008, details amendments to a stock trading plan established by CEO Jeffery H. Boyd under Rule 10b5-1. The primary focus of the amendment is to add shares to Mr. Boyd's existing plan, specifically to cover tax obligations related to performance share units and to manage the sale of shares underlying stock options. These sales are structured to occur over specific periods and are designed to remove the executive's discretion over the timing of transactions, aligning with regulatory requirements for such plans.
Key Highlights
- 1Amendment to CEO Jeffery H. Boyd's Rule 10b5-1 stock trading plan.
- 2The amendment adds shares to the existing plan, primarily for tax payment purposes related to performance share units.
- 3A portion (41.45%) of shares issued from performance share units will be sold to cover estimated taxes.
- 4The plan also includes the sale of 266,666 shares underlying stock options with an exercise price of $30.66.
- 5These option shares will be sold in three equal annual installments prior to their expiration in May 2011.
- 6The amendments ensure no executive discretion over the timing or execution of these stock sales.
- 7The filing was made on March 13, 2008, reporting events from March 10, 2008.