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News Breaks | | | | July 6, 2012 | | 10:46 EDT |  | PIR | Pier 1 Imports CEO, CFO adopt 10b5-1 stock trading plans
Pier 1 Imports disclosed in a filing that Alexander Smith, President and CEO, adopted a 10b5-1 stock trading plan. Smith’s plan provides for the sale of shares of the company’s common stock, issuable upon exercise of options granted to Mr. Smith on February 19, 2007. Under the plan, beginning on August 6, a brokerage firm will be authorized to periodically exercise Smith’s stock options and sell the issued shares provided the stock price is above certain levels. The maximum number of options that can be exercised and sold over the duration of the plan is 500,000. Also, Charles Turner, SVP and CFO adopted a 10b5-1 stock trading plan. The maximum number of shares that can be sold over the duration of Turner's plan is 148,000 shares which number includes options exercised and sold of 130,000. | |
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