CYPRESS, Calif.--(BUSINESS WIRE)--Nov. 16, 2011--
Universal Electronics Inc. (UEI), (NASDAQ:UEIC) announced Paul
Arling, chairman and chief executive officer, has established a new
trading plan in accordance with Rule 10b5-1 of the Securities Exchange
Act. 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
Under the plan, Arling intends to exercise up to 50,000 employee stock
options, which were granted in February 2002 and are set to expire in
February 2012, and to sell the underlying shares of UEI common stock
beginning November 16, 2011 and continuing from time to time until
January 27, 2012, subject to the market price of the company’s common
stock, all as set forth in his trading plan. 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.
For additional information, please visit our website at www.uei.com.
Safe Harbor Statement
This press release contains certain “forward-looking statements,” as
defined under U.S. federal securities laws, with respect to the trading
plan described above. These forward-looking statements are based upon
current plans and expectations. Readers are cautioned not to place undue
reliance on any forward-looking statements. Forward looking statements
are necessarily subject to risks, uncertainties and other factors, many
of which are outside the control of the Company. These risks,
uncertainties and other factors are described from time to time in the
Company’s reports filed with the Securities and Exchange Commission. Any
forward-looking statement speaks only as of the date on which such
statement is made, and the Company undertakes no obligation to update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
Source: Universal Electronics Inc.
Paul Arling, 714-820-1000