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INT > SEC Filings for INT > Form 8-K on 19-Sep-2013All Recent SEC Filings

Show all filings for WORLD FUEL SERVICES CORP



Other Events

Item 8.01. Other Events.

On September 13, 2013, Mr. Michael J. Kasbar, the president and chief executive officer of World Fuel Services Corporation (the "Company"), entered into a pre-arranged, non-discretionary stock trading plan (the "Plan") pursuant to Rule 10b5-1 of the Securities and Exchange Act of 1934, as amended (the "Exchange Act"). The Plan was adopted in accordance with guidelines specified under Rule 10b5-1 of the Exchange Act, and the Company's policies regarding stock transactions. Rule 10b5-1 permits individuals who are not in possession of material, non-public information at the time the plan is adopted to establish pre-arranged plans to buy or sell company stock. These plans allow individuals to achieve prudent and gradual asset diversification over time.

Under the Plan, Mr. Kasbar may sell up to 180,000 shares of the Company's common stock, which represents approximately 17% of his holdings, as well as the net shares of common stock he will receive upon vesting of 13,828 shares of restricted stock and 26,817 restricted stock units in March 2014. The Plan provides that Mr. Kasbar may sell shares beginning on November 5, 2013 and ending on March 28, 2014. The sales are being made under the Plan for diversification and tax planning purposes, as well as to reduce the number of shares of common stock Mr. Kasbar has pledged as collateral for a personal loan.

The transactions under the Plan will be publicly disclosed to the extent required under applicable securities laws, rules and regulations through Form 4 filings with the Securities and Exchange Commission. The Company does not undertake to report Rule 10b5-1 plans that may be adopted by any of its officers or directors in the future, or to report any modifications or termination of any publicly announced trading plan, except to the extent required by law.

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