Summary
Curtiss-Wright Corporation (CW) announced the adoption of a written trading plan under Rule 10b5-1 on December 9, 2015. This plan is designed to facilitate the execution of its previously authorized share repurchase program, which was also announced on the same date. The implementation of this plan allows the company to repurchase its own stock even during periods when it might otherwise be restricted due to blackout periods or insider trading regulations. Under the terms of the plan, a third-party broker will manage the share repurchases on behalf of Curtiss-Wright, adhering to specified limitations. Purchases are scheduled to commence on January 4, 2016, and the company may establish subsequent trading plans in the future to continue its share repurchase efforts. Investors should monitor the company's periodic filings (Form 10-Q and 10-K) for updates on the progress of these repurchases.
Key Highlights
- 1Curtiss-Wright adopted a Rule 10b5-1 trading plan on December 9, 2015.
- 2The plan is associated with the company's previously authorized share repurchase program.
- 3Share repurchases under this plan will commence on January 4, 2016.
- 4The plan allows for repurchases during potential blackout periods, aiding consistent execution of the buyback program.
- 5A designated broker will execute trades according to the plan's terms and limitations.
- 6The company may enter into future 10b5-1 trading plans to continue repurchasing shares.
- 7Details on share repurchases will be disclosed in future Form 10-Q and 10-K filings.