Summary
O'Reilly Automotive, Inc. (ORLY) filed an 8-K on August 11, 2021, to disclose an important event that occurred on August 6, 2021. Chief Operating Officer and Co-President Jeff Shaw has adopted a Rule 10b5-1 trading plan for the exercise and subsequent sale of company common stock. This plan is designed to manage the expiration of stock options that have a ten-year contractual life and are set to expire in February 2028. The establishment of this plan allows Mr. Shaw to exercise and sell shares at predetermined market prices, subject to specific limitations. Importantly, the plan was put in place during an open trading window and when Mr. Shaw was not in possession of any material non-public information. Investors should note that Mr. Shaw has committed to publicly disclosing all transactions made under this plan, as required by federal securities laws.
Key Highlights
- 1COO and Co-President Jeff Shaw adopted a Rule 10b5-1 trading plan.
- 2The plan involves the exercise and subsequent sale of O'Reilly Automotive (ORLY) common stock.
- 3The purpose of the plan is to manage stock options nearing their expiration in February 2028.
- 4The plan was established during an unrestricted trading window.
- 5The plan was established when the executive was not in possession of material non-public information.
- 6Mr. Shaw will publicly disclose all transactions made under the plan.
- 7This is a disclosure of executive trading plans, not a financial performance announcement.