SUNNYVALE, Calif. & YOKNEAM, Israel--(BUSINESS WIRE)--Mellanox® Technologies, Ltd. (NASDAQ: MLNX), a leading supplier of high-performance, end-to-end connectivity solutions for data center servers and storage systems, today announced that Eyal Waldman, president and CEO, and Jacob Shulman, chief financial officer, have each adopted a stock trading plan to sell a portion of their ordinary shares of the company in an orderly manner. Each plan adopted is in accordance with the guidelines specified by Rule 10b5-1 under the Securities and Exchange Act of 1934.
Rule 10b5-1 permits corporate officers, directors and others to adopt written, pre-arranged stock trading plans when they are not in possession of material, non-public information. Using these plans, insiders may gradually diversify their investment portfolios and spread stock trades over a period of time regardless of any material, non-public information they may receive after adopting their plans. In accordance with 10b5-1 rules, Mr. Waldman and Mr. Shulman will have no discretion over sales under their respective plans.
Under Mr. Waldman’s plan, Waldo 2 Holdings, a general partnership of which Mr. Waldman is a general partner, may sell up to 194,924 shares, the majority of which are options which will expire in 2016, for the benefit of Mr. Waldman subject to satisfaction of certain conditions. If the conditions are met, sales under the plan may commence in January 1, 2016 and would be completed by December 31, 2016. The sales by Mr. Waldman under his plan are intended to diversify his securities holdings and to help meet estate planning goals. All transactions under the plan will be disclosed through Form 144 and Form 4 filings with the Securities and Exchange Commission as required by applicable securities laws.
Under his plan, Mr. Shulman may sell up to 26,979 shares, subject to satisfaction of certain conditions. If the conditions are met, sales under the plan may commence in January 1, 2016 and would be completed by December 31, 2016. The sales by Mr. Shulman under his plan are intended to diversify his securities holdings and to help meet estate planning goals.
Mellanox Technologies is a leading supplier of end-to-end InfiniBand and Ethernet interconnect solutions and services for servers and storage. Mellanox interconnect solutions increase data center efficiency by providing the highest throughput and lowest latency, delivering data faster to applications and unlocking system performance capability. Mellanox offers a choice of fast interconnect products: adapters, switches, software, cables and silicon that accelerate application runtime and maximize business results for a wide range of markets including high-performance computing, enterprise data centers, Web 2.0, cloud, storage and financial services. More information is available at www.mellanox.com.
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