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January 29, 2013
08:02 EDTVRNGVringo 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.
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