Summary
Curtiss-Wright Corporation announced on December 1, 2017, the adoption of a written trading plan under Rule 10b5-1 of the Securities Exchange Act of 1934. This plan is designed to facilitate share repurchases and was authorized by the Board of Directors. The company intends to repurchase $50 million of its common stock, with purchases executed equally over the course of one year, commencing on January 2, 2018, and concluding on December 31, 2018. This initiative is part of the company's ongoing share repurchase program. The Rule 10b5-1 plan provides a structured framework for repurchases, allowing the company to buy back shares even during periods when it might otherwise be restricted due to insider trading regulations or company-imposed blackout periods. A third-party broker will manage the share repurchases according to the plan's specifications. Investors should note that this plan is subject to market conditions and forward-looking statements are subject to inherent risks and uncertainties.
Key Highlights
- 1Curtiss-Wright adopted a Rule 10b5-1 trading plan effective January 2, 2018.
- 2The company plans to repurchase $50 million worth of its common stock.
- 3Share repurchases will be executed equally over a one-year period.
- 4The trading plan will conclude on December 31, 2018.
- 5The plan enables repurchases during potential blackout periods.
- 6A selected broker will execute the trades on behalf of the company.
- 7The adoption is part of the company's authorized share repurchase program.