|
|
Article: Advance Auto Parts Chairman and CEO Adopts 10b5-1 Plan.
- Article from:
- PR Newswire
- Article date:
- May 27, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Advance Auto Parts, Inc. announced today that Lawrence P. Castellani, the Company's Chairman and Chief Executive Officer, has adopted a prearranged, systematic trading plan to sell shares of Advance Auto Parts' common stock in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934.
Pursuant to Rule 10b5-1, officers and directors of public companies may adopt predetermined plans for selling specified amounts of stock at specified prices. The plans may be entered into only when the officer or director is not in possession of material, nonpublic information and may be used to diversify investment portfolios over a period of time.
Under the ...