By Business Wire, October 09, 2013, 09:32:00 AM EDT
Actuant Corporation (NYSE:ATU) today announced that its Chief Executive
Officer (CEO), Robert C. Arzbaecher, has adopted a prearranged trading
plan in accordance with guidelines specified by Rule 10b5-1 under the
Securities Exchange Act of 1934 and the Company's policies with respect
to insider sales. Rule 10b5-1 allows officers and directors of public
companies, at a time when they are not aware of material nonpublic
information, to adopt predetermined plans for selling shares of company
Pursuant to the 10b5-1 plan, Arzbaecher plans to programmatically
exercise options and sell shares over a period of approximately fifteen
months. The sales are subject to certain 10b5-1 plan criteria, including
time parameters, minimum price levels and daily volume activity.
Arzbaecher announced his intent to retire from the CEO role effective in
January 2014 and continue on as Chairman of the Board.
In addition, certain members of Actuant's Board of Directors, as well as
other officers, may exercise options or sell shares during the existing
open trading window.
The stock is being sold for personal financial planning purposes
including portfolio diversification as a large portion of these
individuals' net worth is in the form of Actuant stock. All will
continue to be in compliance with Actuant's stock ownership requirements.
Actuant Corporation is a diversified industrial company serving
customers from operations in more than 30 countries. The Actuant
businesses are leaders in a broad array of niche markets including
branded hydraulic tools and solutions; specialized products and services
for energy markets and highly engineered position and motion control
systems. The Company was founded in 1910 and is headquartered in
Menomonee Falls, Wisconsin. Actuant trades on the NYSE under the symbol
ATU. For further information on Actuant and its businesses, visit the
Company's website at www.actuant.com.
Source: Actuant Corporation