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FARO > SEC Filings for FARO > Form 8-K on 2-Dec-2013All Recent SEC Filings

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Form 8-K for FARO TECHNOLOGIES INC


2-Dec-2013

Other Events


Item 8.01. Other Events.

On November 26, 2013, Jay W. Freeland, chief executive officer and a director of FARO Technologies, Inc., adopted a stock trading plan in accordance with Rule 10b5-1 (the "Trading Plan") of the Securities Exchange Act of 1934, as amended. The Trading Plan provides for the automatic cashless exercise of options to purchase shares of FARO common stock held by Mr. Freeland and the sale of the net shares received by Mr. Freeland if the trading price for FARO's common stock reaches certain pre-determined levels set forth in the Trading Plan. The Trading Plan became effective on November 26, 2013 and will terminate on November 25, 2014, unless earlier terminated in accordance with the terms of the Trading Plan. The Trading Plan has been adopted during FARO's open window for insider transactions, and, under the terms of the Trading Plan, Mr. Freeland will have no discretion or control over the timing or effectuation of sales.
Mr. Freeland's previous Trading Plan, which was disclosed by FARO in the Current Report on Form 8-K dated November 5, 2012, terminates in accordance with its terms on December 19, 2013.


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