This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Ulta Salon, Cosmetics & Fragrance, Inc. Announces Adoption of Rule 10b5-1 Plan by Executive Officer 2009-10-16 14:30 ET - News Release
ROMEOVILLE, Ill. -- (Business Wire)
Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ: ULTA) today announced
that its Chief Executive Officer, Lyn Kirby has established a plan under
Rule 10b5-1 of the Securities and Exchange Act of 1934, as amended. Rule
10b5-1 enables security holders to adopt pre-arranged stock trading
plans for the purchase or sale of predetermined amounts of securities on
a non-discretionary basis when they do not possess material, non-public
information.
The plan, effective for a term of approximately four months commencing
on December 14, 2009, will allow Ms. Kirby to sell up to 900,000 shares
of common stock. The maximum number of shares that may be sold during
the term of the plan represents approximately 1.5% of the issued and
outstanding common stock of the Company. The plan has been entered into
for financial diversification and estate planning purposes with the goal
of minimizing any market impact of this diversification.
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