Science & Technology
Tue, August 16, 2011Mon, August 15, 2011Sun, August 14, 2011Fri, August 12, 2011Thu, August 11, 2011Wed, August 10, 2011Tue, August 9, 2011Mon, August 8, 2011Sun, August 7, 2011Sat, August 6, 2011Fri, August 5, 2011Thu, August 4, 2011Wed, August 3, 2011Tue, August 2, 2011Mon, August 1, 2011Sun, July 31, 2011Fri, July 29, 2011Thu, July 28, 2011Wed, July 27, 2011Travelzoo CEO Adopts 10b5-1 Stock Trading Plan
Published in Science and Technology on Saturday, August 6th 2011 at 9:20 GMT by Market Wire
NEW YORK--([ BUSINESS WIRE ])--Travelzoo Inc. (NASDAQ: TZOO), a global Internet media company, today announced that Christopher Loughlin, chief executive officer, has adopted a prearranged trading plan in order to exercise options which have vested, diversify his investment portfolio, and achieve liquidity. The stock trading plan was adopted in accordance with Rule 10b5-1 under the Securities and Exchange Act of 1934.
Rule 10b5-1 allows persons to adopt written, pre-arranged stock trading plans when they are not in possession of material, non-public information. Such plans establish parameters for future stock transactions to automatically take place, which may be modified or revoked by the person adopting the plan only in limited circumstances. In providing for these plans, the SEC recognized the need for corporate insiders to gradually diversify their holdings and spread stock trades out over extended periods of time to reduce market impact, without concerns about whether such individuals might have had access to material, non-public information at the time of a particular transaction.
Mr. Loughlina™s plan provides for the exercise of up to 75,000 options of Travelzoo Inc. Common Stock and liquidation of a portion of the resulting shares at certain predetermined price levels. The exercises and sales are subject to satisfaction of certain conditions and continue through July 31, 2012, at which date the trading plan terminates.
About Travelzoo
Travelzoo Inc. is a global Internet media company. With more than 24 million subscribers in North America, Europe, and Asia Pacific and 23 offices worldwide, Travelzoo® publishes deals from more than 2,000 travel, entertainment and local companies. Travelzoo Deal Experts review offers to find the best deals and confirm their true value. In Asia Pacific, Travelzoo is independently owned and operated by Travelzoo (Asia) Ltd. and Travelzoo Japan K.K. under a license agreement with Travelzoo Inc.
Certain statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forward-looking statements may include, but are not limited to, statements about our plans, objectives, expectations, prospects and intentions, markets in which we participate and other statements contained in this press release that are not historical facts. When used in this press release, the words aexpecta, apredicta, aprojecta, aanticipatea, abelievea, aestimatea, aintenda, aplana, aseeka and similar expressions are generally intended to identify forward-looking statements. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements, including changes in our plans, objectives, expectations, prospects and intentions and other factors discussed in our filings with the SEC. We cannot guarantee any future levels of activity, performance or achievements. Travelzoo undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release. Travelzoo and Top 20 are registered trademarks of Travelzoo. All other names are trademarks and/or registered trademarks of their respective owners.
