Heritage Property Investment Trust, Inc. CEO Adopts New Rule 10B5-1 Stock Trading Plan
18 Août 2005 - 11:05PM
PR Newswire (US)
BOSTON, Aug. 18 /PRNewswire-FirstCall/ -- Heritage Property
Investment Trust, Inc. (NYSE:HTG) ("Heritage" or the "Company"),
today announced that Thomas C. Prendergast, Chairman, President and
Chief Executive Officer, has adopted a new stock trading plan to
sell a portion of his company stock over time as part of a strategy
for asset diversification and liquidity. The trading plan was
adopted in accordance with guidelines specified by the Securities
and Exchange Commission's Rule 10b5-1 under the Securities Exchange
Act of 1934. Rule 10b5-1 allows corporate officers and directors to
adopt written, pre-arranged stock trading plans when they do not
have material, non- public information. Using these plans, insiders
can gradually diversify their investment portfolios, can spread
stock trades out over an extended period of time to reduce any
market impact and can avoid concerns about whether they had
material, non-public information when they sold their stock. Mr.
Prendergast's new Rule 10b5-1 Plan replaces his existing three-year
Rule 10b5-1 Plan, which was adopted in March 2004, and which Mr.
Prendergast terminated simultaneously with the adoption of his new
plan. Under his new plan, Mr. Prendergast may sell up to 180,000
shares over a period of three years. In addition, shares received
upon exercise of 396,000 employee stock options may be sold over a
period of three years. Like his prior Rule 10b5-1 Plan, Mr.
Prendergast's new Rule 10b5-1 Plan has a series of laddered price
triggers for the sale of shares. If Mr. Prendergast completes all
the planned sales of shares under his Rule 10b5-1 Plan, he would
beneficially own approximately 1.1 million shares of Heritage's
outstanding stock (including shares subject to currently
exercisable options). In accordance with Mr. Prendergast's trading
plan, the sales will occur from time to time, and will be under the
direction of Merrill Lynch Pierce Fenner & Smith. The
transactions under his plan will commence no earlier than October
2005 and will be disclosed publicly through Form 144 and Form 4
filings with the Securities and Exchange Commission. The Form 4
filings will also be posted on the Investor Relations section of
the Company's website at http://www.heritagerealty.com/ . ABOUT
HERITAGE PROPERTY INVESTMENT TRUST, INC. Heritage is a fully
integrated, self-administered and self-managed REIT traded on the
New York Stock Exchange under the symbol "HTG". Heritage is one of
the largest owners and operators of neighborhood and community
shopping centers in the United States. Heritage focuses on
grocer-anchored shopping centers with multiple anchors. Heritage is
headquartered in Boston Massachusetts and has an additional 16
regional offices located in the Eastern, Midwestern and
Southwestern United States. For more information about Heritage,
please refer to Heritage's website, http://www.heritagerealty.com/
. Some of the statements contained in this press release constitute
forward- looking statements. Forward-looking statements relate to
expectations, beliefs, projections, future plans and strategies,
anticipated events or trends and similar expressions concerning
matters that are not historical facts. The forward-looking
statements reflect the Company's current views about future events
and are subject to risks, uncertainties, assumptions and changes in
circumstances that may cause the Company's actual results to differ
significantly from those expressed in any forward-looking
statement. You should not rely on forward-looking statements since
they involve known and unknown risks, uncertainties and other
factors which are, in some cases, beyond the Company's control and
which could materially affect actual results. The factors that
could cause actual results to differ materially from current
expectations include financial performance and operations of the
Company's shopping centers, including the Company's tenants, real
estate conditions, current and future bankruptcies of the Company's
tenants, execution of shopping center redevelopment programs, the
Company's ability to finance the Company's operations, successful
completion of renovations, completion of pending acquisitions, the
availability of additional acquisitions, changes in economic,
business, competitive market, leasing and regulatory conditions,
acts of terrorism or war and other risks detailed from time to time
in filings with the Securities and Exchange Commission. The
forward-looking statements contained herein represent the Company's
judgment as of the date of this release, and the Company cautions
readers not to place undue reliance on such statements. DATASOURCE:
Heritage Property Investment Trust, Inc. CONTACT: Patrick
O'Sullivan, Vice President, Finance and Accounting of Heritage
Property Investment Trust, Inc., +1-617-247-2200, ; or Analysts,
Claire Koeneman, +1-312-640-6745, or General, Joe Calabrese,
+1-212-827-3772, both of Financial Relations Board Web site:
http://www.heritagerealty.com/
Copyright
Heritage Property Investment (NYSE:HTG)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Heritage Property Investment (NYSE:HTG)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024