MILWAUKEE, Feb. 26, 2015 /PRNewswire/ -- Briggs & Stratton Corporation (NYSE:BGG)
Briggs & Stratton Corporation (the "Company") today announced that Todd J. Teske, Chairman, President & CEO, has adopted an individual stock trading plan in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934.
Mr. Teske informed the Company that he intends to sell a total of 100,000 shares of Company common stock that would be issued as a result of the exercise of stock options that will expire in August 2015. The purpose of the plan is to provide Mr. Teske with the ability to exercise his options and sell the underlying Company common stock in an orderly manner and avoid concerns about the timing of the transactions.
The amount that Mr. Teske may realize from the exercise of any options will be the number of options exercised multiplied by the amount by which the net selling prices of the Company's stock on the date(s) the stock options are exercised exceeds the exercise price of the stock options.
Other Company executives may from time to time adopt Rule 10b5-1 plans.
David J. Rodgers
Senior Vice President and
Chief Financial Officer
Logo - http://photos.prnewswire.com/prnh/20120529/CG15020LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/briggs--stratton-corporation-announces-adoption-of-new-rule-10b5-1-plan-by-executive-officer-300042474.html
SOURCE Briggs & Stratton Corporation
