InfoSonics Corporation Executives Adopt 10b5-1 Stock Trading Plan
14 Marzo 2006 - 10:00PM
Business Wire
InfoSonics Corporation (AMEX:IFO), one of the largest distributors
of wireless handsets in the United States and Latin America, today
announced that its Chief Executive Officer Joseph Ram, Executive
Vice President and Secretary, Abraham Rosler and Chief Financial
Officer, Jeffrey Klausner have adopted individual pre-arranged
trading plans in accordance with Rule 10b5-1 of the Securities and
Exchange Act of 1934, as amended, and the Company's policies and
procedures on stock transactions by officers, directors and
employees. Messrs. Ram, Rosler or Klausner have not previously sold
any shares of their holdings of InfoSonics Corporation's common
stock or common stock underlying options. The pre-arranged stock
trading plans were adopted in order to allow Messrs. Ram, Rosler
and Klausner to sell a portion of their shares of common stock
(and/or shares of common stock acquired upon the exercise of vested
stock options) over time as part of their long-term strategies for
individual asset diversification and liquidity. Messrs. Ram, Rosler
and Klausner will not have any discretion or control over the
timing of stock sales or option exercises under the plan. The
transactions under the plans will be disclosed publicly through
filings on Form 4 with the Securities and Exchange Commission.
Sales under each plan are subject to certain prearranged minimum
sale prices. Mr. Ram's plan provides for sales of up to 25,000
shares each month commencing May 11, 2006 (300,000 shares in the
aggregate during the plan term). Mr. Rosler's plan provides for
sales of up to 15,000 shares each month commencing May 24, 2006
(180,000 shares in the aggregate during the plan term). Mr.
Klausner's plan provides for sales of up to 13,000 shares each
month commencing May 19, 2006 (156,000 shares in the aggregate
during the plan term). All of the plans terminate on April 30, 2007
and shares not sold in a particular month may be carried over and
sold in successive months during the term. Rule 10b5-1 permits
insiders who are unaware of material, nonpublic information to
adopt pre-arranged written agreements for trading securities in a
non-discretionary manner. Messrs. Ram, Rosler and Klausner, as well
as other officers and directors of the Company, may adopt similar
plans in the future. About InfoSonics Corporation InfoSonics is one
of the fastest growing distributors of wireless handsets and
accessories in the United States and Latin America. InfoSonics
provides end-to-end handset and wireless terminal solutions for
network operators in both the United States and Latin America.
These solutions include product approval and certification, light
assembly, logistics services, marketing campaigns, warranty
services and end user support. For more information please visit
http://www.infosonics.com.
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