Reynolds American Chairman Establishes Stock Trading Plan
04 Agosto 2004 - 11:09PM
PR Newswire (US)
Reynolds American Chairman Establishes Stock Trading Plan
WINSTON-SALEM, N.C., Aug. 4 /PRNewswire-FirstCall/ -- Andrew J.
Schindler, the executive chairman of Reynolds American Inc.
(NYSE:RAI) has established a stock-trading plan under Rule 10b5-1
of the Securities and Exchange Act of 1934. After the sales of
shares and options he has authorized under this plan, Schindler
will continue to own approximately 75,000 shares of RAI stock.
Schindler, who plans to retire in six months and become
non-executive chairman of RAI, has never cashed any of his stock
options or restricted shares other than to pay tax withholdings.
Before instituting the 10b5-1 plan, Schindler discussed his
intentions with, and received concurrence from, the board of
directors of R.J. Reynolds Tobacco Holdings, Inc. (RJR), which
became a wholly owned subsidiary of RAI on July 30, 2004. The sale
of shares will occur over a five month period and will allow
Schindler to appropriately balance his personal finances for his
upcoming retirement. He currently holds approximately 465,000 RAI
options and approximately 118,000 shares of RAI stock. Lynn J.
Beasley, president and chief operating officer of R.J. Reynolds
Tobacco Company, a subsidiary of RAI, and Charles A. Blixt,
executive vice president and general counsel of RAI, also
established 10b5-1 stock-trading plans. Beasley's plan covers
10,000 shares, after the execution of which she will own
approximately 24,300 shares. Blixt's plan covers approximately
16,450 shares, after the execution of which he will own
approximately 14,300 shares. Both executives entered into the plans
in order to balance their personal investment portfolios. Rule
10b5-1 plans permit individuals who are not in possession of
material nonpublic information to establish prearranged plans to
buy or sell company stock. The rule allows individuals adopting
such plans to sell shares over a specified period of time or at a
specific price in the future, regardless of any subsequent material
nonpublic information they receive. Reynolds American Inc. is the
parent company of R.J. Reynolds Tobacco Company, Santa Fe Natural
Tobacco Company, Inc., Lane Limited and R.J. Reynolds Global
Products, Inc. R.J. Reynolds Tobacco Company, the second- largest
U.S. tobacco company, manufactures about one of every three
cigarettes sold in the United States, including five of the
nation's 10 best-selling brands: Camel, Winston, KOOL, Salem and
Doral. Santa Fe Natural Tobacco Company, Inc. manufactures Natural
American Spirit cigarettes and other tobacco products, and markets
them both nationally and internationally. Lane Limited manufactures
several roll-your-own, pipe tobacco and little cigar brands, and
distributes Dunhill tobacco products. R.J. Reynolds Global
Products, Inc. manufactures, sells and distributes American-blend
cigarettes and other tobacco products to a variety of customers
worldwide. Copies of RAI's news releases, annual reports, SEC
filings and other financial materials are available on the
company's Web site, http://www.reynoldsamerican.com/ . DATASOURCE:
Reynolds American Inc. CONTACT: Media, Maura Payne,
+1-336-741-6996, or Investors, Carole Biermann When,
+1-336-741-5182, both of Reynolds American Web site:
http://www.rjrt.com/
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