Actuant Executive Adopts 10b5-1 Plan
October 09 2013 - 9:32AM
Business Wire
Actuant Corporation (NYSE: ATU) today announced that its Chief
Executive Officer (CEO), Robert C. Arzbaecher, has adopted a
prearranged trading plan in accordance with guidelines specified by
Rule 10b5-1 under the Securities Exchange Act of 1934 and the
Company's policies with respect to insider sales. Rule 10b5-1
allows officers and directors of public companies, at a time when
they are not aware of material nonpublic information, to adopt
predetermined plans for selling shares of company stock.
Pursuant to the 10b5-1 plan, Arzbaecher plans to
programmatically exercise options and sell shares over a period of
approximately fifteen months. The sales are subject to certain
10b5-1 plan criteria, including time parameters, minimum price
levels and daily volume activity. Arzbaecher announced his intent
to retire from the CEO role effective in January 2014 and continue
on as Chairman of the Board.
In addition, certain members of Actuant’s Board of Directors, as
well as other officers, may exercise options or sell shares during
the existing open trading window.
The stock is being sold for personal financial planning purposes
including portfolio diversification as a large portion of these
individuals’ net worth is in the form of Actuant stock. All will
continue to be in compliance with Actuant’s stock ownership
requirements.
About Actuant
Actuant Corporation is a diversified industrial company serving
customers from operations in more than 30 countries. The Actuant
businesses are leaders in a broad array of niche markets including
branded hydraulic tools and solutions; specialized products and
services for energy markets and highly engineered position and
motion control systems. The Company was founded in 1910 and is
headquartered in Menomonee Falls, Wisconsin. Actuant trades on the
NYSE under the symbol ATU. For further information on Actuant and
its businesses, visit the Company's website at www.actuant.com.
Actuant CorporationKaren BauerCommunications & Investor
Relations Leader262-293-1562
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