Red Hat CEO to Adopt Stock Trading Plan In January
Mr. Szulik, who has been the Chief Executive Officer of the Company for over six years and a senior executive since 1998, stated, "These arrangements will permit me to engage in diversification of my personal investment portfolio in an orderly manner and facilitate additional personal financial and tax planning."
“These arrangements will permit me to engage in diversification of my personal investment portfolio in an orderly manner and facilitate additional personal financial and tax planning.”
Rule 10b5-1 allows corporate officers and directors to adopt written, pre-arranged stock trading plans. These plans can be used to diversify portfolios and to spread trades over a period of time. So long as such a plan is adopted at a time when the seller does not have material, non-public information, the transactions called for under the trading plan will be deemed not to have been made on the basis of material non-public information.
Red Hat also announced that certain of its other executive officers plan to enter into Rule 10b5-1 stock trading plans and may also engage in transactions in the Company's common stock outside of such plans.
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Red Hat, the world's leading open source and Linux provider, is headquartered in Raleigh, NC with satellite offices spanning the globe. Red Hat is leading Linux and open source solutions into the mainstream by making high quality, low cost technology accessible. Red Hat provides operating system software along with middleware, applications and management solutions. Red Hat also offers support, training and consulting services to its customers worldwide and through top-tier partnerships. Red Hat's open source strategy offers customers a long term plan for building infrastructures that are based on and leverage open source technologies with focus on security and ease of management. Learn more: http://www.redhat.com
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