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| Centex Executive Adopts 10b5-1 Plan Centex Corporation announced that Andrew J. Hannigan, a 30-year veteran of Centex Homes, has adopted a pre-arranged, systematic trading plan for the exercise of certain stock options and sale of the underlying shares in accordance with guidelines specified by Rule 10b5-1 under the Securities Exchange Act of 1934 and with Centex's policies with respect to insider sales. Rule 10b5-1 permits officers and directors of public companies to adopt pre-determined plans for buying or selling specified amounts of stock. The plans may be entered into only when an officer or director is not in possession of material, nonpublic information and may be used to gradually diversify investment portfolios over a period of time. Under this 10b5-1 plan, Mr. Hannigan has directed a broker unaffiliated with the company to exercise on a net basis, subject to certain conditions, options to purchase up to 853, 468 shares of Centex common stock over the period commencing Nov. 18, 2005 and ending Oct. 31, 2006. The plan has a series of laddered price triggers for the exercise of options and the sale of the net shares issued. write your comments about the article :: © 2005 Construction News :: home page |