Hector Communications Corporation's Chairman and CEO Adopts 10b5-1 Plan
11 Novembre 2004 - 10:35PM
PR Newswire (US)
Hector Communications Corporation's Chairman and CEO Adopts 10b5-1
Plan HECTOR, Minn., Nov. 11 /PRNewswire-FirstCall/ -- Hector
Communications Corporation (AMEX:HCT) announced today that Curtis
A. Sampson, the Company's Chairman of the Board and Chief Executive
Officer, has entered into a pre- arranged, systematic trading plan
to sell Hector Communications Corporation (HCC) shares in
accordance with guidelines specified by Rule 10b5-1 under the
Securities Exchange Act of 1934 and HCC policies with respect to
insider sales. Rule 10b5-1 permits officers and directors of public
companies to adopt pre-determined plans for selling specified
amounts of stock. The plans may be entered into only when the
director or officer is not in possession of material, nonpublic
information and may be used to gradually diversify investment
portfolios over a period of time. Mr. Sampson's 10b5-1 Plan
provides for the sale of approximately 39,000 shares of HCC common
stock beginning November 11, 2004. As of November 11, 2004, Mr.
Sampson beneficially owned approximately 600,000 HCC common shares.
Mr. Sampson has designated a target price for the sale of the HCC
shares covered by the 10b5-1 Plan. If HCC stock is not trading at
or above the target price, the shares covered by the 10b5-1 Plan
may not be sold. Hector Communications Corporation is a
telecommunications holding company which through its subsidiaries
provides telecommunications services in rural communities in
Minnesota, Wisconsin and North Dakota. HCC serves 29,700 telephone
access lines, 8,200 cable television subscribers and 10,800
internet customers and has minority ownership interests in many
other telecommunications companies. HCC shares are traded on the
American Stock Exchange under the symbol HCT. For more information
on HCC, please visit http://www.hectorcom.com/ . DATASOURCE: Hector
Communications Corporation CONTACT: Curtis A. Sampson, Chairman and
Chief Executive Officer, Steven H. Sjogren, President and Chief
Operating Officer, or Paul N. Hanson, Vice President-Finance, of
Hector Communications Corporation, +1-320-848-6231 Web site:
http://www.hectorcom.com/
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