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| CPTS > SEC Filings for CPTS > Form 8-K on 4-Mar-2009 | All Recent SEC Filings |
4-Mar-2009
Other Events
On December 2, 2008, Kathryn Tunstall, Chairman of the Board of Directors of Conceptus, Inc. (the "Company"), entered into a new Rule 10b5-1 trading plan, which became effective on March 2, 2009. The trading plan is an agreement between Ms. Tunstall and a broker to sell shares of common stock of the Company that she owns. Pursuant to the trading plan, a maximum of 48,000 shares of common stock may be sold beginning on March 3, 2009 until the trading plan expires on December 31, 2009. The trading plan specifies the number of shares of common stock that may be sold at predetermined times and at predetermined prices, subject to the terms and conditions of the trading plan.
Additionally, on December 4, 2008, Mark Sieczkarek, President and Chief Executive Officer of the Company, entered into a new Rule 10b5-1 trading plan, which became effective on March 4, 2009. The trading plan is an agreement between Mr. Sieczkarek and a broker to sell shares of common stock of the Company that he owns or will acquire by exercising stock options. Pursuant to the trading plan, a maximum of 100,000 stock options may be exercised and sold and up to 7,925 shares of common stock may be sold beginning March 4, 2009 until the trading plan expires on March 4, 2010. The trading plan specifies the number of shares of common stock that may be sold at predetermined times and at predetermined prices, subject to the terms and conditions of the trading plan.
Both Ms. Tunstall and Mr. Sieczkarek entered into the trading plan as part of their personal long-term investment strategy for asset diversification and liquidity and they will have no control over the timing of the sales of shares of common stock under the trading plan.
The trading 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.
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