Wheeling-Pittsburgh Announces 10b5-1 Trading Plans
06/16/2005 - Wheeling-Pittsburgh Corp.’s Chief Executive Officer and President have entered into 10b5-1 plans in order to sell a portion of their Restricted Stock, as have each of the company’s Vice Presidents.
Wheeling-Pittsburgh Corp.’s Chief Executive Officer and President have entered into 10b5-1 plans in order to sell a portion of their Restricted Stock, as have each of the company’s Vice Presidents.
Restrictions on the shares lapse on Aug. 12, 2005. The eight officers will sell a total of 47,990 shares in August in order to pay tax obligations due as a result of the lapsing of restrictions on their Restricted Stock.
In addition, as part of such plans, two officers expect to sell an additional combined 13,564 shares over the four weeks following the lapse of restrictions, at market price, subject to certain price thresholds. These two plans were entered in order to diversify the portfolios of these officers in an orderly manner.
Wheeling-Pittsburgh is a steel company engaged in the making, processing and fabrication of steel and steel products using both integrated and electric arc furnace technology. The company's products include hot and cold rolled sheet and coated products such as galvanized, pre-painted and tin mill sheet. The company also produces a variety of steel products including roll formed corrugated roofing, roof deck, floor deck, bridgeform and other products used primarily by the construction, highway and agricultural markets.