Volcom Chairman and Executives Adopt Stock Trading Plans
25 Febbraio 2008 - 10:00PM
Business Wire
Volcom, Inc. (NASDAQ:VLCM) today announced that its Chairman Ren�
R. Woolcott, President and Chief Executive Officer Richard R.
Woolcott, and certain other executive officers have adopted
separate pre-arranged stock trading plans under Rule 10b5-1 of the
Securities and Exchange Act of 1934. The plans have been entered
into for the purposes of financial planning and asset
diversification. Ren� Woolcott and Richard Woolcott currently hold
2,119,992 and 3,542,566 shares of the company�s common stock,
respectively, or 8.7% and 14.5%, respectively, of the company�s
total outstanding common stock. Ren� Woolcott and Richard
Woolcott�s current 10b5-1 plans for sales through April 2008 and
July 2008, respectively, are expected to expire pursuant to their
terms. Ren� Woolcott may sell up to 600,000 shares from May 2008
through April 2009, with no more than 50,000 shares sold in any one
calendar month, except for certain carry-forwards if shares are not
sold in prior months, and Richard Woolcott may sell up to 480,000
shares from August 2008 through July 2009, with no more than 40,000
shares sold in any one calendar month, except for certain
carry-forwards if shares are not sold in prior months. If the full
amount of shares is sold pursuant to the plans, no shares are sold
outside of the plans and not including any sales under their
current 10b5-1 plans, Ren� Woolcott and Richard Woolcott will
remain the beneficial owners of over 6.2% and 12.6%, respectively,
of the company�s common stock based on the number of shares
currently outstanding. Sales of the shares under both of the plans
will be subject to pre-determined minimum price terms. Other
executives that entered into stock trading plans to sell up to an
aggregate of 167,000 shares of the company�s common stock or common
stock underlying options include the following: Name � Position �
Maximum Number of Shares to be Sold Under Plan Douglas P. Collier
Chief Financial Officer 96,000 Troy C. Eckert Vice President of
Marketing 36,000 Tom D. Ruiz Vice President of Sales 35,000 All of
the stock trading plans were adopted in accordance with SEC
guidelines. Rule 10b5-1 allows corporate insiders to adopt written,
pre-arranged stock trading plans to buy or sell a specified number
of shares of company stock. Insiders may adopt such plans when they
are not in possession of material, inside information in order to
gradually change their investment portfolio to minimize any market
effect of stock sales or purchases by spreading them out over an
extended period of time, and to avoid concerns about initiating
stock transactions while in possession of material, non-public
information. Transactions under these plans will be disclosed
publicly through Form 144 and Form 4 filings with the U.S.
Securities and Exchange Commission. The Form 4 filings will also be
posted on the company�s investor relations Web site at
www.volcom.com/investorrelations. About Volcom, Inc. Volcom is an
innovative designer, marketer and distributor of premium quality
young men's and women's clothing, accessories and related products.
The Volcom brand, symbolized by The Stone, is athlete-driven,
creative and forward thinking. Volcom has consistently followed its
motto of �youth against establishment,� and the brand is inspired
by the energy of youth culture. Volcom branded products are sold
throughout the United States and internationally. Volcom�s news
announcements and SEC filings are available through the company�s
website at www.volcom.com.
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