Trading plan parameters expanded: mandatory trade details and optional price limits, with swift compliance officer approval and Audit Committee review. Trading plans must specify for each trade either the value or number of securities, the nature of the trade, and either a specific date or a time period not exceeding five consecutive trading days; an optional price limit may be set within a prescribed range relative to the prior closing price, may be adjusted for corporate actions with compliance officer approval and disclosed to exchanges, and trades must be executed only within any set price limit. Non-implementation must be reported to the compliance officer, reviewed by the Audit Committee, and notified to exchanges; the compliance officer must approve or reject plans within two trading days and notify approved plans to exchanges on the day of approval.
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Provisions expressly mentioned in the judgment/order text.
Trading plan parameters expanded: mandatory trade details and optional price limits, with swift compliance officer approval and Audit Committee review.
Trading plans must specify for each trade either the value or number of securities, the nature of the trade, and either a specific date or a time period not exceeding five consecutive trading days; an optional price limit may be set within a prescribed range relative to the prior closing price, may be adjusted for corporate actions with compliance officer approval and disclosed to exchanges, and trades must be executed only within any set price limit. Non-implementation must be reported to the compliance officer, reviewed by the Audit Committee, and notified to exchanges; the compliance officer must approve or reject plans within two trading days and notify approved plans to exchanges on the day of approval.
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