LANSING, Mich., March 27, 2015 /PRNewswire/ -- Neogen
Corporation (NASDAQ: NEOG) announced today that Jerome Properties,
LLC, has adopted a prearranged trading plan in accordance with
Securities and Exchange Commission rule 10b5-1. James Herbert, Chairman and CEO of Neogen
Corporation, is a minority owner of this entity that owns shares of
Neogen Corporation common stock.
Herbert does not have control of this entity, but felt the
disclosure was appropriate. The filing is only for a portion of the
shares owned by that entity and is a small portion of total shares
of Neogen stock held by Herbert or for his benefit.
Rule 10b5-1 of the Securities Exchange Commission permits
officers of public companies to adopt predetermined written plans
for trading specified amounts of company stock when they are not in
possession of material non-public information in order to gradually
diversify their investment portfolio and to minimize the market
effect of stock sales by spreading them over an extended period of
time.
The 10b5-1 Plan adopted by Jerome Properties LLC involves a
market order to sell up to 10,000 shares per month of Neogen
Corporation common stock each month for one year. The Plan will
take effect on April 1, 2015 and
expire on March 31, 2016.
Neogen Corporation develops and markets products dedicated to
food and animal safety. The company's Food Safety Division markets
dehydrated culture media and diagnostic test kits to detect
foodborne bacteria, natural toxins, food allergens, drug residues,
plant diseases and sanitation concerns. Neogen's Animal Safety
Division is a leader in the development of animal genomics along
with the manufacturing and distribution of a variety of animal
healthcare products, including diagnostics, pharmaceuticals,
veterinary instruments, wound care and disinfectants.
CONTACT:
|
Steven J. Quinlan,
Vice President and CFO
|
|
517/372-9200
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/neogen-ceo-adopts-10b5-1-trading-plan-300057117.html
SOURCE Neogen Corporation