VASCO NEWS: ITEM 8.01 Other Events: Effective
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Posted On: 08/24/2017 11:05:01 AM
VASCO NEWS:
ITEM 8.01 Other Events:
Effective May 15, 2017, T. Kendall Hunt, Chairman and CEO of VASCO Data Security International, Inc. (the “Company”), adopted a stock trading plan (the “10b5-1 Plan”). The 10b5-1 Plan has been adopted in accordance with guidelines specified by Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and the Company’s insider trading policies.
Rule 10b5-1 permits corporate officers, directors and others to adopt written, pre-arranged stock trading plans when they are not in possession of material, non-public information. Using these plans, insiders may gradually diversify their investment portfolios and spread stock trades over a period of time regardless of any material, non-public information they may receive after adopting their plans. In accordance with the 10b5-1 rules, Mr. Hunt will have no discretion over the sales of his shares of common stock under the plan.
Under the 10b5-1 Plan, shares of the Company’s common stock currently held by Mr. Hunt will be sold into the marketplace, subject to satisfaction of certain conditions. It is expected that sales under the 10b5-1 Plan will commence as soon as May 15, 2017 and will be completed within one year. Under the 10b5-1 Plan, shares would be sold in monthly installments. It is expected that approximately ten percent of Mr. Hunt’s current holdings will be sold, based on current market prices.
Mr. Hunt currently has an ownership interest in a total of 9,057,553 shares of the Company’s stock. Any transactions under the 10b5-1 Plan will be disclosed publicly through Form 4 filings with the Securities and Exchange Commission when due. Except as may be required by law, the Company does not undertake to report 10b5-1 trading plans by other officers or directors of the Company in the future, or to report modifications or terminations of any such plans, whether or not the plan was publicly announced, except to the extent required by law.
ITEM 8.01 Other Events:
Effective May 15, 2017, T. Kendall Hunt, Chairman and CEO of VASCO Data Security International, Inc. (the “Company”), adopted a stock trading plan (the “10b5-1 Plan”). The 10b5-1 Plan has been adopted in accordance with guidelines specified by Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and the Company’s insider trading policies.
Rule 10b5-1 permits corporate officers, directors and others to adopt written, pre-arranged stock trading plans when they are not in possession of material, non-public information. Using these plans, insiders may gradually diversify their investment portfolios and spread stock trades over a period of time regardless of any material, non-public information they may receive after adopting their plans. In accordance with the 10b5-1 rules, Mr. Hunt will have no discretion over the sales of his shares of common stock under the plan.
Under the 10b5-1 Plan, shares of the Company’s common stock currently held by Mr. Hunt will be sold into the marketplace, subject to satisfaction of certain conditions. It is expected that sales under the 10b5-1 Plan will commence as soon as May 15, 2017 and will be completed within one year. Under the 10b5-1 Plan, shares would be sold in monthly installments. It is expected that approximately ten percent of Mr. Hunt’s current holdings will be sold, based on current market prices.
Mr. Hunt currently has an ownership interest in a total of 9,057,553 shares of the Company’s stock. Any transactions under the 10b5-1 Plan will be disclosed publicly through Form 4 filings with the Securities and Exchange Commission when due. Except as may be required by law, the Company does not undertake to report 10b5-1 trading plans by other officers or directors of the Company in the future, or to report modifications or terminations of any such plans, whether or not the plan was publicly announced, except to the extent required by law.
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