Summary
Rockwell Automation, Inc. (ROK) filed an 8-K on December 18, 2007, reporting an event that occurred on November 30, 2007. The primary focus of this filing is the establishment of a Rule 10b5-1 trading plan by Keith D. Nosbusch, the Chairman and CEO of the company. This plan allows Mr. Nosbusch to exercise stock options for 154,623 shares, with an exercise price of $20.349 per share, and subsequently sell these shares on the open market. The plan becomes effective on February 1, 2008, and the sale of shares will be triggered when a predetermined minimum price threshold is met. Mr. Nosbusch has stated that this plan is part of his personal tax and financial planning strategy to diversify and liquidate certain long-term assets.
Key Highlights
- 1CEO Keith D. Nosbusch has established a Rule 10b5-1 trading plan for 154,623 shares.
- 2The shares are to be acquired through the exercise of stock options awarded on October 4, 1999.
- 3The stock options have an exercise price of $20.349 per share.
- 4The trading plan becomes effective on February 1, 2008.
- 5Shares will be sold on the open market once a minimum price threshold is achieved.
- 6The CEO's stated purpose for the plan is personal tax and financial planning, including diversification and liquidation of assets.