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VRA > SEC Filings for VRA > Form 8-K on 16-Apr-2014All Recent SEC Filings

Show all filings for VERA BRADLEY, INC.



Other Events

Item 8.01. Other Events

Adoption of Trading Plans under Rule 10b5-1

Certain officers and directors and significant shareholders of the Company have from time to time entered into written stock selling plans in accordance with Rule 10b5-1 of the Exchange Act, and the Company's insider trading policy. Rule 10b5-1 provides guidelines for officers, directors and other insiders to prearrange sales of the Company's securities in a manner that avoids concerns about initiating stock transactions while in possession of material nonpublic information. Such plans also allow insiders to diversify their holdings and to minimize the market effect of stock sales by spreading them out over time.

On March 24, 2014, Michael C. Ray, our former Chief Executive Officer, entered into a written stock selling plan in accordance with Rule 10b5-1. Pursuant to this plan, Mr. Ray may sell up to an aggregate of 250,000 shares of the Company's common stock between April 29, 2014 and March 25, 2015, provided that certain prices specified in the plan are reached.

Except as may be required by law, the Company does not undertake to report modifications, terminations or other activities under current or future 10b5-1 plans established by our officers and directors or significant shareholders.

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