Summary
This Form 8-K filing from Mastercard Inc. (MA) on May 6, 2008, primarily reports on the adoption of pre-arranged stock trading plans, commonly known as 10b5-1 Plans, by two key executives: Robert W. Selander (President and CEO) and Gary J. Flood (President, Products and Services). These plans are designed for personal financial management and comply with SEC Rule 10b5-1 and the company's insider trading policies. These plans allow for the sale of a specified number of shares over a ten-month period, commencing as early as July 2, 2008, and concluding by May 1, 2009. Mr. Selander plans to sell up to approximately 116,150 shares, comprising those from restricted stock units and stock options, while Mr. Flood intends to sell up to 7,582 shares from stock options. It's important to note that these sales are structured to occur at specified market prices and are subject to certain limitations. Despite these planned sales, both executives remain subject to the company's executive stock ownership guidelines.
Key Highlights
- 1Key executives, Robert W. Selander (CEO) and Gary J. Flood (President, Products and Services), have adopted 10b5-1 trading plans.
- 2These plans are for personal financial management and comply with Rule 10b5-1 and company insider trading policies.
- 3Mr. Selander may sell up to ~116,150 shares (restricted stock units and stock options).
- 4Mr. Flood may sell up to 7,582 shares (stock options).
- 5Sales are scheduled to occur over a ten-month period, beginning as early as July 2, 2008, and ending by May 1, 2009.
- 6The sales are structured with specified share amounts at specified market prices, subject to limitations.
- 7Executives remain subject to Mastercard's stock ownership guidelines.