Summary
O'Reilly Automotive, Inc. (ORLY) filed a Form 8-K on June 3, 2010, to report an event that occurred on June 1, 2010. The key event disclosed is the establishment of a trading plan by CEO and Co-President Greg Henslee under Rule 10b5-1. This plan is designed to facilitate the exercise and subsequent sale of stock options that are set to expire in February 2013. The plan specifies option exercises and stock sales based on predetermined market prices and share amounts, subject to certain limitations. The establishment of this plan occurred during the company's open trading window and while Mr. Henslee was not in possession of material non-public information, adhering to regulatory requirements.
Key Highlights
- 1CEO Greg Henslee established a Rule 10b5-1 trading plan on June 1, 2010.
- 2The plan allows for the exercise and subsequent sale of company common stock.
- 3The purpose of the plan is to manage stock options expiring in February 2013.
- 4Specific share amounts and market prices are stipulated for option exercises and sales.
- 5The plan was established during an unrestricted trading window.
- 6Mr. Henslee confirmed he was not in possession of material non-public information when establishing the plan.
- 7All option exercises and stock sales under the plan will be publicly disclosed as required.