Scripps officers adopt 10b5-1 trading plans
Thu, September 25, 2014 by Carolyn Micheli
For immediate release
Thu, September 25, 2014
CINCINNATI – Certain 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 approximately 72,700 shares underlying options, which were granted in February 2007, if certain criteria are met. Sales of shares underlying options may commence on Oct. 6, 2014, and would be completed by Feb. 20, 2015.
Timothy E. Stautberg, senior vice president, newspapers, has established a plan to exercise up to approximately 70,400 options, which were granted in February 2008, if certain criteria are met. Exercise of the options may commence on Oct. 1, 2014, and would be completed by Feb. 27, 2015.
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 (www.scripps.com) serves audiences and businesses through a growing portfolio of television, print and digital media brands. Scripps owns 21 local television stations as well as daily newspapers in 13 markets across the United States. It also runs an expanding collection of local and national digital journalism and information businesses, including mobile video news service Newsy. Scripps also produces television programming, 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 1879, Scripps is focused on the stories of tomorrow.
Contact Carolyn Micheli, The E. W. Scripps Company, 513-977-3732