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Quotes & Info
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| PMTC > SEC Filings for PMTC > Form 8-K on 2-Feb-2004 | All Recent SEC Filings |
2-Feb-2004
Other Events
The trading policies of Parametric Technology Corporation (PTC) permit the adoption of pre-arranged plans for trading PTC shares in accordance with Securities and Exchange Commission Rule 10b5-1.
On January 29, 2004, Paul J. Cunningham, PTC's Executive Vice President of Worldwide Sales, entered into a 10b5-1 Trading Plan. Trades under the plan may occur commencing on February 12, 2004.
On February 2, 2004, James E. Heppelmann, PTC's Executive Vice President and Chief Product Officer, entered into a 10b5-1 Trading Plan. Trades under the plan may occur commencing on February 16, 2004.
These plans were established during PTC's open window period for insider transactions. No trades may be made under the plans during PTC's quarterly restricted periods for insider transactions.
A 10b5-1 Trading Plan is a pre-arranged plan for trading company stock in accordance with Securities and Exchange Commission Rule 10b5-1. Under such plans, the executive officer or director does not retain any discretion over the execution of such transactions, which a broker executes in a predetermined manner, typically over a period of time. Such a plan is used to achieve portfolio diversification and liquidity objectives while avoiding concerns about initiating stock transactions when aware of nonpublic information. Pre-arranged trading plans can also benefit shareholders by reducing or eliminating the market disruption that could otherwise occur if executive officers and directors were to conduct all of their transactions in relatively brief periods.
The Company anticipates that, as permitted by Rule 10b5-1 and its trading policies, other executive officers and directors may establish such plans in the future.
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