Summary
Mastercard Incorporated filed an 8-K on November 23, 2007, to disclose that its President and CEO, Robert W. Selander, and its President of Products and Services, Gary J. Flood, have entered into pre-arranged stock trading plans. These plans, designed to comply with Rule 10b5-1, allow for the sale of a limited number of Class A common shares for personal financial management purposes over a seven-month period, beginning as early as January 21, 2008. Mr. Selander's plan permits the sale of up to 27,000 shares acquired through the company's directed share program, while Mr. Flood's plan allows for the sale of up to 13,500 shares related to restricted stock unit awards. It's important to note that both executives are still subject to the company's stock ownership guidelines and that these planned sales are subject to specified market prices and limitations. All transactions will be publicly disclosed via Form 4 filings.
Key Highlights
- 1Two senior executives, including the CEO, have adopted Rule 10b5-1 trading plans.
- 2CEO Robert W. Selander plans to sell up to 27,000 shares of Class A common stock.
- 3President of Products and Services Gary J. Flood plans to sell up to 13,500 shares of Class A common stock.
- 4Sales are expected to occur over a seven-month period, starting around January 21, 2008, and ending by August 13, 2008.
- 5These sales are for personal financial management and are subject to specific market prices and limitations.
- 6Both executives remain subject to company stock ownership guidelines.
- 7All transactions will be reported on Form 4 filings.