Summary
This 8-K filing from Harris Corporation reports on the establishment of a pre-arranged stock trading plan by its Senior Vice President and Chief Financial Officer, Gary L. McArthur. This plan, established on December 12, 2011, allows for the sale of 12,000 shares of Harris stock over time, commencing in March 2012. The primary purpose is for personal financial and estate planning, aiming for gradual asset diversification while adhering to Rule 10b5-1 of the Securities Exchange Act of 1934 and the company's insider trading policy. Investors should note that this is a routine disclosure related to insider trading compliance, designed to permit stock sales without the appearance of trading on material non-public information. The plan's execution is subject to specific conditions, including minimum price thresholds and the potential for termination or suspension based on certain events. Mr. McArthur's continued stock ownership will remain in compliance with the company's executive stock ownership guidelines.
Key Highlights
- 1CFO Gary L. McArthur established a Rule 10b5-1 trading plan.
- 2The plan allows for the sale of 12,000 Harris Corporation shares.
- 3Sales are scheduled to begin in March 2012.
- 4The plan is intended for personal asset diversification and financial planning.
- 5Sales are subject to minimum price thresholds and other conditions.
- 6The plan complies with the company's insider trading policy and Rule 10b5-1.
- 7Transactions will be disclosed via Form 4 and Form 144 filings.