Briggs & Stratton Corporation Announces Adoption Of Rule 10B5-1 Plans By Executive Officers
The following excerpt is from the company's SEC filing.
Messrs. Rodgers and Wright informed the Company that under their trading plans they intend to sell 16,536 shares and 18,636 shares, respectively, of Company common stock that would be issued as a result of the exercise of stock options that will expire in August 2014. The purpose of each plan is to provide the executive officer with the ability to exercise his expiring options and sell the underlying Company common stock in an orderly manner and avoid concerns about the timing of the transactions.
The amount that each executive may realize from the exercise of any options will be the number of options exer
cised multiplied by the amount by which the net selling prices of the Company’s stock on the dates the stock options are exercised exceed the exercise prices of the stock options.
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.
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