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| HMA > SEC Filings for HMA > Form 8-K on 14-Dec-2012 | All Recent SEC Filings |
14-Dec-2012
Change in Directors or Principal Officers, Other Events
On December 11, 2012, Health Management Associates, Inc. (the "Company") amended its Tax Advantaged Wealth Plan (the "Plan"), a nonqualified deferred compensation plan maintained for the benefit of certain designated physicians and executives of the Company and its affiliates, to allow the Company's named executive officers to participate in the Plan as of January 1, 2013. The Plan is an elective account balance plan under which participants may elect to defer receipt of a portion of their base salary and/or annual bonus. The Plan is not funded by the Company. Any amounts deferred by participants are contributed to a rabbi trust and invested to provide benefits upon distribution, which is generally after separation from service.
The Company will file the Plan document as an exhibit to its Annual Report on Form 10-K for the year ending December 31, 2012.
On December 11, 2012, Gary D. Newsome adopted a pre-arranged stock trading plan in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. Mr. Newsome is a director of the Company, as well as its President and Chief Executive Officer.
Rule 10b5-1 permits the adoption of a written stock trading plan by a person at a time when such person is not in possession of material non-public information, pursuant to which a registrant's shares can be sold in the future at predetermined times and/or in accordance with pre-established price parameters. Mr. Newsome's Rule 10b5-1 plan covers the period January 12, 2013 through December 31, 2013 and applies to a maximum of 200,000 shares of the Company's common stock that he currently holds in a brokerage account. Mr. Newsome informed the Company's management that he adopted his Rule 10b5-1 plan to diversify his holdings. Additionally, Mr. Newsome informed the Company's management that he will publicly disclose all transactions under such plan in accordance with applicable securities laws.
The Company does not undertake to report any modifications, terminations, transactions or other activities under Mr. Newsome's Rule 10b5-1 plan, except as may be required by law.
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