AmerisourceBergen Corporation (NYSE:ABC) Files An 8-K Other EventsItem 8.01Other Events.
On August 31, 2017, Steven H. Collis, Chairman, President and Chief Executive Officer of AmerisourceBergen Corporation (the "Company"), adopted a pre-arranged Rule 10b5-1 stock trading plan (the "10b5-1 plan"). Under the 10b5-1 plan, Mr. Collis may sell up to an aggregate of 384,294 shares of the Company’s common stock to be acquired through the exercise of stock options which are scheduled to expire on March 1, 2019 and November 14, 2019. Shares may be sold under the 10b5-1 plan on the open market at prevailing market prices and subject to minimum price thresholds specified therein. The 10b5-1 plan is scheduled to terminate on March 8, 2019, unless terminated sooner in accordance with its terms.
Mr. Collis continues to be subject to the Company’s executive stock ownership guidelines, under which he is required to hold Company stock valued at least six times his base salary. As of September 6, 2017, Mr. Collis beneficially owned 1,042,526 shares of the Company's common stock. In addition, Mr. Collis has unvested stock options and restricted stock units, and is eligible to receive performance shares based on the Company's cumulative performance at the end of the applicable three-year performance cycle. Mr. Collis does not expect the 10b5-1 plan to materially change his ownership position.
The 10b5-1 plan was adopted in a scheduled open window period under the Company’s insider trading policy. The 10b5-1 plan was designed to comply with the guidelines specified in Rule 10b5-1 promulgated under the Securities Exchange Act of 1934, as amended, which permit persons to enter into a pre-arranged plan for buying or selling Company stock at a time when such person is not in possession of material, nonpublic information about the Company.
The transactions under the 10b5-1 plan will be disclosed publicly through Form 4 filings with the Securities and Exchange Commission. Except as may be required by law, the Company does not undertake to report on specific pre-arranged Rule 10b5-1 stock trading plans of Company officers, nor to report modifications or terminations of the aforementioned 10b5-1 plan or the plans of any other individual.
About AmerisourceBergen Corporation (NYSE:ABC)
AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company’s segments include Pharmaceutical Distribution and Other. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. As of June 30, 2016, the Pharmaceutical Distribution segment consists of two operating segments, including the operations of AmerisourceBergen Drug Corporation (ABDC) and AmerisourceBergen Specialty Group (ABSG), which distributes specialty drugs to their customers. Servicing healthcare providers in the pharmaceutical supply channel, the Pharmaceutical Distribution segment’s operations provide drug distribution and related services. The Other segment consists of the operations of various segments, including the AmerisourceBergen Consulting Services (ABCS), the World Courier Group, Inc. and the MWI Veterinary Supply, Inc. ABSG operates distribution facilities that focus primarily on complex disease treatment regimens.