NN, Inc. Announces Plans Of Certain Directors And Executive Officers To Exercise Expiring Stock Options And Sell Shares
JOHNSON CITY, Tenn., Sept. 9, 2013 /PRNewswire/ -- NN, Inc. (Nasdaq: NNBR) today announced that certain of its Directors and Executive Officers intend to exercise options due to expire March 1, 2014. These individuals expect to exercise their options and sell shares to cover taxes and required exercise costs in an orderly and timely fashion prior to the expiration of their options. Sales may occur either through open market transactions or through the adoption of predetermined trading plans in accordance with the guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934 and are expected to begin sometime after September 9, 2013.
NN has a total of 185,000 shares subject to options that will expire March 1, 2014. In addition, as part of their long-term investment strategy for asset diversification and liquidity, Directors and Executive Officers may from time to time elect to exercise other options and sell shares which are not due to expire in 2014.
The exercise of any options and the sale of stock will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission. The Form 4 filings will be accessible in the "Corporate Information - Investor Relations" section of NN's website by clicking on the link "Inside Ownership (Section 16) Reports".
NN, Inc. manufacturers and supplies high precision metal bearing components, industrial plastic and rubber products and precision metal components to a variety of markets on a global basis. Headquartered in Johnson City, Tennessee, NN has 10 manufacturing plants in the United States, Western Europe, Eastern Europe and China. NN, Inc. had sales of US $370 million in 2012.
SOURCE NN, Inc.