Scripps officers adopt 10b5-1 trading plans
CINCINNATI, Dec. 28, 2012 /PRNewswire/ -- Earlier this month, certain officers of The E.W. Scripps Company (NYSE: SSP) adopted stock trading plans in accordance with the guidelines specified by Rule 10b5-1 under the Securities and Exchange Act of 1934.
Rule 10b5-1 permits corporate officers, directors and others to adopt written, pre-arranged stock trading plans when they are not in possession of material, non-public information. These plans allow insiders to have shares sold for their accounts over a period of time regardless of any material, non-public information they may receive after adopting their plans.
The sale of Scripps shares under these trading plans is intended to help diversify the officers' personal investment holdings.
Bill Appleton, senior vice president and general counsel, has filed a plan to sell up to approximately 40,000 shares if certain criteria are met. Sales may commence on April 1, 2013, and would be completed by November 1, 2013.
Brian G. Lawlor, senior vice president, television, has filed a plan to sell up to approximately 35,000 shares and 13,000 shares underlying options if certain criteria are met. Sales of the shares may commence on March 7, 2013, and would be completed by December 31, 2013. Sales of the shares underlying options may commence on January 30, 2013, and would be completed by February 25, 2013.
Douglas F. Lyons, vice president and controller of the company, has filed a plan to sell up to approximately 42,000 shares underlying options if certain criteria are met. His program commenced on December 17, 2012, and sales would be completed by August 15, 2013.
Adam Symson, chief digital officer of the company, has filed a plan to sell up to approximately 6,000 shares if certain criteria are met. Sales under the plan may commence on March 15, 2013, and would be completed by June 28, 2013.
In accordance with 10b5-1 rules, the executives listed above will have no discretion over sales under their respective plans. All transactions under the plans will be disclosed through Form 144 and Form 4 filings with the Securities and Exchange Commission as required by applicable securities laws.
Scripps (www.scripps.com) is a leading media enterprise that embraces its rich history in delivering high-quality journalism through television stations, newspapers and the Scripps Howard News Service, while developing and expanding its digital strategies, including social gaming, for multiple platforms. The company provides community-changing breaking news, story-telling, investigations and interactive outreach at 19 television stations in major markets such as Denver, San Diego, Detroit, Phoenix, Cleveland, Cincinnati and Tampa, and 13 newspaper markets, including Memphis, Knoxville, Naples, Fla., and Corpus Christi, Texas. Since 1941, Scripps has operated the National Spelling Bee, one of America's most-enduring celebrations of academic excellence. For a full listing of Scripps media companies and their associated Web sites, visit http://www.scripps.com/.
SOURCE The E.W. Scripps Company