Summary
Mastercard Inc. filed a Form 8-K on November 12, 2009, disclosing the establishment of pre-arranged stock trading plans (10b5-1 Plans) by four of its key executives, including CEO Robert W. Selander. These plans are designed to allow for the sale of a limited number of Class A common shares, derived from performance stock units, restricted stock units, and stock options, for personal financial management. The sales are expected to commence in early January 2010 and conclude by August 2010. Importantly, the company emphasized that these plans comply with Rule 10b5-1 of the Securities Exchange Act of 1934 and MasterCard's insider trading policies. The executives remain subject to the company's stock ownership guidelines, which encourage significant holdings in Class A common stock. All transactions conducted under these plans will be publicly disclosed via Form 4 filings with the SEC.
Key Highlights
- 1Four key executives, including the CEO, have entered into 10b5-1 trading plans.
- 2These plans allow for the sale of a combined maximum of approximately 76,499 shares of Class A common stock.
- 3The shares to be sold are linked to performance stock unit, restricted stock unit, and stock option awards.
- 4Sales are scheduled to begin as early as January 6, 2010, and end no later than August 25, 2010.
- 5The plans are designed to comply with Rule 10b5-1 and the company's insider trading policies.
- 6Executives remain subject to stock ownership guidelines, requiring significant personal holdings.
- 7All transactions under these plans will be publicly reported via SEC Form 4 filings.