Summary
O'Reilly Automotive, Inc. (ORLY) filed an 8-K on September 1, 2011, to disclose the establishment of a Rule 10b5-1 trading plan by Ted Wise, its Chief Operating Officer and Co-President. This plan outlines the future exercise of stock options and subsequent sale of shares, triggered by specific market prices and other limitations. The primary purpose of this plan is to facilitate the disposition of options that are set to expire in February 2014, preventing them from lapsing unused.
Key Highlights
- 1COO and Co-President Ted Wise has adopted a Rule 10b5-1 trading plan.
- 2The plan facilitates the exercise and subsequent sale of stock options.
- 3The plan is designed to manage the expiration of stock options in February 2014.
- 4Trades under the plan are contingent on specific market prices and other limitations.
- 5The plan was established during an unrestricted trading window.
- 6Mr. Wise 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 by law.