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| DORM > SEC Filings for DORM > Form 8-K on 11-Jun-2012 | All Recent SEC Filings |
11-Jun-2012
Other Events
On June 8, 2012, Jeffery Darby, Senior Vice President, Sales, of Dorman Products, Inc. (the "Company"), entered into a Rule 10b5-1 trading plan (the "Plan") with a broker to manage the sale of up to 5,000 shares of the Company's common stock, subject to the terms and conditions of the Plan. The Plan will expire on June 7, 2013, unless renewed, extended, or terminated earlier by Mr. Darby.
Mr. Darby will have no control over the timing of stock sales under the Plan, thereby allowing trades to occur exempt from "blackout periods" prescribed by the Company's Insider Trading Policy. Any transactions under the Plan will be reported by Mr. Darby through individual Form 4 filings with the Securities and Exchange Commission, as appropriate.
The Plan is intended to satisfy the affirmative defense conditions of Rule 10b5-1 of the Securities Exchange Act of 1934. Rule 10b5-1 allows corporate insiders to establish prearranged written stock plans. A Rule 10b5-1 plan must be entered into in good faith at a time when the insider is not aware of material, nonpublic information.
Mr. Darby has stated that his trading plan is designed to allow him to monetize a portion of his equity position in a systematic, nondiscretionary manner with the goal of minimal market impact and compliance with regulations adopted by the Securities and Exchange Commission.
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