Vringo issues statement about recent director, officer transactions Vringo issued a statement regarding recent transactions by certain officers and directors pursuant to their pre-existing Rule 10b5-1 trading plans. On January 28, portions of restricted stock units granted to certain Vringo officers and directors pursuant to the company's 2012 Equity Incentive Plan vested. The vesting of these securities caused income tax liabilities for the officers and directors. The proceeds from these stock sales are being used to pay the income tax associated with the vesting of the restricted stock units. All the stock sales were effected pursuant to pre-existing trading plans established pursuant to Rule 10b5-1 and will be reported on Form 4 filings to be filed with the United States Securities and Exchange Commission.
Vringo announces 1-for-10 reverse stock split Vringo announced the that effective at 5:00 pm, Eastern Time, on November 27, the company will effect a one-for-ten reverse stock split of its outstanding common stock. The company's common stock will open for trading on The NASDAQ Capital Market on November 30 on a post-split basis.