CINCINNATI, March 17, 2017 /PRNewswire/ -- Two officers of The E.W. Scripps Company (NYSE: SSP) have 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.
Richard A. Boehne, chairman, president and CEO, has established a plan to sell up to 150,000 shares if certain criteria are met. Sales of shares may commence on April 17, 2017, and would be completed by Oct. 13, 2017.
Adam P. Symson, chief operating officer, has established a plan to sell up to approximately 20,300 shares if certain criteria are met. Sales of shares may commence on April 17, 2017, and would be completed by Oct. 31, 2017.
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.
The E.W. Scripps Company (NYSE: SSP) serves audiences and businesses through a growing portfolio of television, radio and digital media brands. Scripps is one of the nation's largest independent TV station owners, with 33 television stations in 24 markets and a reach of nearly one in five U.S. households. It also owns 34 radio stations in eight markets. Scripps also runs an expanding collection of local and national digital journalism and information businesses, including multi-platform satire and humor brand Cracked, podcast industry leader Midroll Media and over-the-top video news service Newsy. Scripps also produces television shows including "The List" and "The Now," runs an award-winning investigative reporting newsroom in Washington, D.C., and serves as the long-time steward of the nation's largest, most successful and longest-running educational program, the Scripps National Spelling Bee. Founded in 1878, Scripps has held for decades to the motto, "Give light and the people will find their own way."
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SOURCE The E.W. Scripps Company