Cabela’s Chairman Adopts Rule 10b5-1 Trading Plan, Announces Planned Estate Planning Distributions
2009-06-09 22:08:03 -
Cabela’s Incorporated (NYSE: CAB) announced today that its Chairman Richard N. Cabela has adopted a pre-arranged stock trading plan to sell a small portion of the approximately 9.6 million shares of Cabela’s common stock that he beneficially owns. Under the stock trading plan, commencing on July 15, 2009, a Cabela family trust will make 12 consecutive monthly sales of 1,000 shares of Cabela’s common stock as part of Mr. Cabela’s personal financial and estate planning.
The stock trading plan was adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities and Exchange Act of 1934 and Cabela’s policies regarding stock transactions. Rule 10b5-1 allows corporate officers and directors to adopt written, pre-arranged stock trading plans when they do not have material, non-public information.
Using these plans, insiders can gradually diversify their investment portfolios, can spread stock trades out over an extended period of time to reduce any market impact and can avoid concerns about whether they had material, non-public information when they sold their stock.
Sales of shares pursuant to the stock trading plan will be reported through Form 4 filings and, if applicable, Form 144 filings with the Securities and Exchange Commission.
The Company also announced that Mr. Cabela currently intends to cause certain Cabela family trusts to make 12 consecutive monthly distributions of 9,000 shares of Cabela’s common stock to his children as part of his personal estate planning. These monthly estate planning distributions are expected to begin on July 15, 2009.
The stock trading plan sales and anticipated estate planning distributions will reduce Mr. Cabela’s beneficial ownership of Cabela’s common stock by 120,000 shares, which amounts to 1.25% of the approximately 9.6 million shares of Cabela’s common stock that Mr.
Cabela beneficially owns as of the date of this press release.
About Cabela’s Incorporated
Cabela’s Incorporated, headquartered in Sidney, Nebraska, is a leading specialty retailer, and the world’s largest direct marketer, of hunting, fishing, camping and related outdoor merchandise. Since the Company’s founding in 1961, Cabela’s® has grown to become one of the most well-known outdoor recreation brands in the world, and has long been recognized as the World’s Foremost Outfitter®. Through Cabela’s growing number of retail stores and its well-established direct business, it offers a wide and distinctive selection of high-quality outdoor products at competitive prices while providing superior customer service.
Cabela’s also issues the Cabela’s CLUB® Visa credit card, which serves as its primary customer loyalty rewards program. Cabela’s stock is traded on the New York Stock Exchange under the symbol “CAB”.
Cabela’s IncorporatedInvestors:Chris Gay, 308-255-2905orMedia:Joe
Arterburn, 308-255-1204
