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| R > SEC Filings for R > Form 8-K on 29-May-2009 | All Recent SEC Filings |
29-May-2009
Other Events
Gregory T. Swienton, our Chairman and Chief Executive Officer, has established a stock trading plan that is intended to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and our insider trading policy. Mr. Swienton's previous trading plan expired by its own terms on May 15, 2009.
The new plan provides for the exercise of up to 114,000 stock options which are scheduled to expire in October 2010, and the subsequent sale of the acquired shares on the open market at prevailing market prices commencing June 15, 2009 and ending on May 17, 2010, subject to specified limitations, minimum price thresholds and early termination or suspension upon the occurrence of certain specified events. The plan will be used by Mr. Swienton to diversify his Ryder System, Inc. holdings as part of his estate and tax planning activities, and to provide for an orderly disposition of expiring stock options. The plan will not reduce Mr. Swienton's ownership of our stock below his stock ownership requirement.
Any transactions effected under the plan will be disclosed publicly through Form 4 filings with the Securities and Exchange Commission.
Rule 10b5-1 allows corporate insiders to establish prearranged stock trading plans when they are not in possession of material nonpublic information, and allows such prearranged trades to be made pursuant to the plan regardless of any subsequent material information that the insider may receive.
Except as may be required by law, we do not undertake to report stock trading plans by other company officers or directors, nor to report modifications or termination of any publicly-announced plan, including Mr. Swienton's plan.
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