|
Quotes & Info
|
| CMI > SEC Filings for CMI > Form 8-K on 6-Dec-2012 | All Recent SEC Filings |
6-Dec-2012
Other Events
On November 28, 2012, N. Thomas Linebarger, Chairman and Chief Executive Officer of Cummins Inc. (the "Company"), entered into a pre-arranged stock trading plan (the "Linebarger 10b5-1 Plan") to sell a limited number of his shares of the Company's common stock, par value $2.50 per share ("Common Stock"). The Linebarger 10b5-1 Plan was designed to comply with the Company's insider trading policies and the guidelines specified in Rule 10b5-1 promulgated under the Securities Exchange Act of 1934, as amended, which permit an officer or director to enter into a pre-arranged plan for buying or selling Company stock at a time when the officer or director is not in possession of material, nonpublic information about the Company.
The Linebarger 10b5-1 Plan allows for the sale of a maximum of 20,000 shares of Common Stock at a specified market price commencing sixty days after adoption of the Linebarger 10b5-1 Plan and continuing until all 20,000 shares are sold or November 28, 2013, whichever occurs first. Based on his current ownership of Common Stock, if all of the 20,000 shares of Common Stock subject to the Linebarger 10b5-1 Plan were sold, Mr. Linebarger would beneficially own approximately 127,709 shares of Common Stock. Mr. Linebarger will continue to be subject to the Company's stock ownership guidelines, and the sales contemplated by the Linebarger 10b5-1 Plan will not reduce Mr. Linebarger's ownership of Common Stock below the levels required by the guidelines.
All sales of Common Stock under the Plan will be disclosed publicly in accordance with applicable securities laws, rules and regulations through appropriate filings with the U.S. Securities and Exchange Commission.
|
|