Summary
This 8-K filing from The Priceline Group Inc. (now Booking Holdings Inc.) on September 8, 2016, discloses that its Chief Financial Officer, Daniel J. Finnegan, has entered into a Rule 10b5-1 trading plan. This plan is designed for the pre-arranged sale of shares that will be issued upon the vesting of Mr. Finnegan's performance share units, originally granted in March 2014. The primary purpose of this plan is to facilitate the orderly sale of a significant number of shares while mitigating insider trading concerns, as sales will occur without Mr. Finnegan's discretionary control over timing or execution. The shares involved are those remaining after tax withholding obligations are met. Investors should note that these sales are scheduled to begin as early as March 6, 2017, and the number of shares sold will depend on the vesting outcome, which could range up to double the target amount.
Key Highlights
- 1CFO Daniel J. Finnegan has adopted a Rule 10b5-1 trading plan.
- 2The plan involves the sale of shares received from the vesting of March 2014 performance share units.
- 3Sales will occur after tax withholding obligations are satisfied.
- 4The number of shares involved could be up to twice the target amount of 2,989 shares.
- 5Sales under the plan can commence as early as March 6, 2017.
- 6Mr. Finnegan will have no discretionary control over the timing or execution of sales.
- 7A summary table of trading plans for other Section 16 officers and directors is available on the company's investor website.