Summary
O'Reilly Automotive, Inc. (ORLY) filed an 8-K on August 26, 2016, to disclose the establishment of a Rule 10b5-1 trading plan by its Senior Vice President and General Counsel, Jeff Groves. This plan allows for the exercise and subsequent sale of company common stock, specifically addressing stock options with a ten-year contractual life that are set to expire in October 2019. The plan was put in place during an unrestricted trading window and at a time when Mr. Groves was not in possession of material non-public information.
Key Highlights
- 1Senior VP and General Counsel, Jeff Groves, has adopted a Rule 10b5-1 trading plan.
- 2The plan is designed for the exercise and subsequent sale of O'Reilly Automotive common stock.
- 3It specifically addresses stock options nearing their expiration in October 2019.
- 4The plan was established during an 'unrestricted trading window'.
- 5Mr. Groves confirmed he was not in possession of material non-public information when establishing the plan.
- 6Any option exercises and stock sales under this plan will be publicly disclosed as required by federal securities laws.