|
Quotes & Info
|
| UTSI > SEC Filings for UTSI > Form 8-K on 10-Sep-2008 | All Recent SEC Filings |
10-Sep-2008
Other Events
On September 8, 2008, Mark Green, Senior Vice President, Human Resources, entered into a Rule 10b5-1 plan (the "Plan") with a broker to sell shares of common stock of UTStarcom, Inc. (the "Company") for personal financial management purposes. The shares to be sold pursuant to the Plan relate to Company awards of restricted stock, performance shares and restricted stock units. Under the Plan, up to 352,316 shares may be sold beginning in November 2008. The Plan will terminate upon the earlier of the sale of all such shares or September 30, 2011. Sales under the Plan will be reported through appropriate filings with the Securities and Exchange Commission.
The Plan is intended to comply with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, and the Company's insider trading policy. Rule 10b5-1 allows corporate insiders to establish pre-arranged written stock trading plans at a time when the insider is not aware of material, non-public information. Subsequent receipt by the insider of material, non-public information will not prevent pre-arranged transactions under the Rule 10b5-1 plan from being executed.
The Company does not undertake any obligation to report Rule 10b5-1 plans that may be adopted by any of the Company's directors or officers from time to time, or to report any modification or termination of such plans.
|
|