Interlink Electronics' Executives Adopt Rule 10b5-1 Trading Program22 January 2005
Interlink Electronics, Inc. (NASDAQ:LINK - News), today announced that two of its executive officers, E. Michael Thoben, Chairman, CEO and President and Paul D. Meyer, Chief Financial Officer, entered into a Rule 10b5-1 preset diversification program in late 2004.
Rule 10b5-1 of the Securities Exchange Act of 1934 allows officers and directors to adopt written plans for trading the Company's securities in a non-discretionary, pre-scheduled manner in order to avoid concerns about initiating stock transactions when the insider may be aware of non-public information. Such plans also allow insiders to diversify their holdings and to minimize the market effect of stock sales by spreading them out over time.
During the term of the trading plans, Thoben and Meyer intend to exercise stock options scheduled to expire at various dates over the next 24 months for an aggregate of 285,000 and 145,000 shares, respectively. The shares acquired on exercise will be sold at regular, periodic intervals over the next two years, beginning in January of 2005. The transactions under the plans will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission.
"Our belief in the Company's prospects has never been stronger. The expiration dates of these options cannot be altered without substantial penalties to the Company. Our adoption of this selling plan will make it possible for us to sell stock on a regular and measured basis without regard to our awareness of non-public information. By entering into this Rule 10b5-1 program, we believe that it will not be necessary for us to exercise options just prior to their expiration date and then sell exceptional amounts of stock over a short period of time, as we were forced to do in 2004," said E. Michael Thoben, Chairman, CEO and President.
About Interlink Electronics, Inc.
Interlink Electronics, Inc. (Nasdaq:LINK - News) is a world leader in the design and manufacture of intuitive interface technologies and products. Creating today's interface standards, the Company's business communications, e-transactions, home entertainment and specialty businesses have established Interlink as the industry's comprehensive source for branded and OEM interface solutions.
Recognized worldwide for innovative technologies and solutions, Interlink Electronics, Inc. serves a global customer-base from its corporate headquarters in Camarillo, CA and offices in Japan, Taiwan, Hong Kong and China. The Company currently holds numerous patents on sensor technologies, e-signature technologies, wireless communications protocols and product design properties.
-------------------------------------------------------------------------------- Contact: Interlink Electronics Investor Relations Michelle Lockard, 805-484-8855, ext. 114 mlockard@interlinkelectronics.com or Paul Meyer, 805-484-8855, ext. 114 pmeyer@interlinkelectronics.com
-------------------------------------------------------------------------------- Source: Interlink Electronics, Inc.
Source: Business Wire via Yahoo
All trademarks and copyrighted information contained herein are the property of their respective owners.
Related Articles
|