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TIGR > SEC Filings for TIGR > Form 8-K on 18-Nov-2011All Recent SEC Filings

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Other Events

Item 8.01 Other Events.

On November 18, 2011, Philip Barrett, a member of the Board of Directors of TigerLogic Corporation (the "Company"), amended his previously adopted pre-arranged trading plan (the "Plan") designed to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, 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. Using these plans, individuals can prudently and gradually diversify their investment portfolios over an extended period of time and avoid concerns about transactions occurring at a time when they might possess material non-public information.

Mr. Barrett's previously adopted Plan provided for the sale of up to 36,000 shares of the Company's common stock held by Mr. Barrett's family trust in twelve equal installments of 3,000 shares each on the 10th day of each month beginning in January 2011 through the Plan's expiration date of December 10, 2011. The amendment extends the term of the Plan through April 2012, increases the monthly installments of shares to be sold, beginning in January 2012, from 3,000 shares per month to 4,000 shares per month, and changes the trade date to the 8th of each month (or the next business day, if such date falls on a weekend or a holiday). The amended Plan will expire in April 2012 upon completion of the final trade on April 9, 2012. Under the Plan as amended, the shares will continue to be sold on the open market at prevailing market prices. All sales pursuant to the Plan will continue to be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission.

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