Gibraltar Industries (NASDAQ: ROCK) today announced that a trust that
holds shares of the Company’s common stock for the benefit of Brian J.
Lipke, the Company’s Chairman and Chief Executive Officer, has entered
into a pre-arranged trading plan to sell a portion of those shares. The
trading plan is designed to comply with Rule 10b5-1 under the Securities
Exchange Act of 1934, as amended, and with the Company’s insider trading
policy. Mr. Lipke has authorized the entry into the trading plan in
connection with his personal estate planning and a related long-term
asset diversification program.
Under the trading plan, Mr. Lipke will have no control over the timing
of sales of the Company’s stock held by the trust and, subject to
minimum price thresholds, sales of the Company’s common stock will be
made at prevailing market prices by the broker designated to carry the
terms of the trading plan into effect. The trading plan permits the
trust to sell up to approximately 15% of the total number of shares of
the Company’s common stock owned directly and indirectly by Mr. Lipke.
The trading plan will expire December 31, 2014.
About Gibraltar
Gibraltar Industries is a leading manufacturer and distributor of
building products, focused on supplying products for residential and
nonresidential repair and remodeling, as well as commercial, industrial
and public infrastructure end markets. The Company generates more than
80% of its sales from products that hold the #1 or #2 positions in their
markets, and serves customers across the U.S. and throughout the world.
Gibraltar’s strategy is to grow organically by expanding its product
portfolio and penetration of existing customer accounts, while
broadening its market and geographic coverage through the acquisition of
companies with leadership positions in adjacent product categories.
Comprehensive information about Gibraltar can be found on its website at http://www.gibraltar1.com.
Copyright Business Wire 2014