Summary
This Form 8-K filing from The Priceline Group Inc. (now Booking Holdings Inc.) on November 25, 2014, announces the adoption of a Rule 10b5-1 trading plan by its Chief Financial Officer, Daniel J. Finnegan. This plan is designed for the sale of shares that will be issued upon the vesting of performance share units granted in March 2012, scheduled to vest in March 2015. The plan allows for the sale of shares, net of those withheld for tax purposes, subject to certain price limitations. Investors should note that this plan is pre-arranged and removes discretion from the CFO regarding the timing and execution of the sales, aligning with standard corporate governance practices for insider stock transactions. The company also makes available a summary of pre-arranged trading plans for all Section 16 officers and directors on its investor relations website.
Key Highlights
- 1CFO Daniel J. Finnegan adopted a Rule 10b5-1 trading plan for personal stock sales.
- 2The plan covers shares from performance share units vesting in March 2015.
- 3Sales will occur after shares vest and are net of shares withheld for income taxes.
- 4The plan allows for sales of a 'target' of 2,710 shares, with a maximum of up to two times the target amount.
- 5The earliest possible sale date under the plan is March 17, 2015.
- 6The CFO will have no discretion over the timing or execution of sales under the plan, ensuring compliance with Rule 10b5-1.
- 7A summary of trading plans for all Section 16 officers and directors is available on the company's investor relations website.