CORRECTING and REPLACING Universal Electronics’ Chairman and Chief Executive Officer Adopts a 10b5-1 Trading Plan
Dec 2, 2013
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SANTA ANA, Calif.--(BUSINESS WIRE)--Dec. 2, 2013--
Please replace the release with the following corrected version due to
multiple revisions.
The corrected release reads:
UNIVERSAL ELECTRONICS’ CHAIRMAN AND CHIEF EXECUTIVE OFFICER ADOPTS A
10B5-1 TRADING PLAN
Universal Electronics Inc. (UEI), (NASDAQ: UEIC) announced that
on November 29, 2013, Paul Arling, chairman and chief executive officer,
established a trading plan in accordance with Rule 10b5-1 of the
Securities Exchange Act (the “Plan”). Rule 10b5-1 permits individuals
who are not then in possession of material nonpublic information to
establish prearranged plans to buy or sell stock. The rule allows
individuals to buy or sell shares of stock at a specific price in the
future, regardless of any subsequent material nonpublic information.
Under the Plan, Arling intends to exercise up to 72,000 employee stock
options and to immediately sell the underlying shares of UEI common
stock beginning immediately and continuing from time to time until May
1, 2014, the date on which the Plan terminates, subject to the market
price of our common stock. This process will facilitate the orderly
exercise of employee stock options and the sale of common stock for
personal financial planning purposes with the goal of minimizing any
market impact and avoiding any concerns about the timing of the
transactions.
About Universal Electronics Inc.
Founded in 1986, Universal Electronics Inc. (UEI) is the global leader
in wireless control technology for the connected home. UEI designs,
develops, and delivers innovative solutions that enable consumers to
control entertainment devices, digital media, and home systems. The
company's broad portfolio of patented technologies and database of
infrared control software have been adopted by many Fortune 500
companies in the consumer electronics, subscription broadcast, and
computing industries. UEI sells and licenses wireless control products
through distributors and retailers under the One For All® brand name.
More information is available at http://www.uei.com.
Source: Universal Electronics Inc.
Universal Electronics Inc.
Paul Arling, 714-918-9500
or
Becky
Herrick, 415-433-3777 (IR Agency)