Chiquita Announces Rule 10b5-1 Stock Trading Plan.
PR Newswire Europe, December, 2007
CINCINNATI, December 17 /PRNewswire/ --
Chiquita Brands International, Inc. (NYSE: CQB) today announced that one of its executive officers has adopted a prearranged stock trading plan in accordance with guidelines specified by Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.
Rule 10b5-1 allows plans to be established that permit corporate executives to prearrange sales of company securities at a time when they are not aware of any material non-public information. Such plans typically involve a plan to sell shares over a set period of time. These pre-arranged planned trades will be executed at a specified later date, as set forth in the plan, without further action or oversight by the executive officer. A plan can provide for sales of...
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