Reading International, Inc. (NASDAQ:RDI) Files An 8-K Other Events
Item 8.01 Other Events
On September 23, 2019, Ellen Cotter, the President and Chief Executive Officer of Reading International, Inc. (the \”Company\”), and Margaret Cotter, the Executive Vice President – Real Estate Management and Development of the Company, entered into a 10b5-1 trading plan (the \”10b5-1 Plan\”), as co-trustees of The James J. Cotter Living Trust (the \”Living Trust\”).
Under the 10b5-1 Plan, a broker-dealer is authorized to sell up to 40,000 shares of Class A common stock of the Company held by the Living Trust over a period from December 9, 2019 through January 28, 2020, or until all such shares are sold, unless the Plan is terminated earlier to its terms.
As previously disclosed, the Company is advised that the purpose of the 10b5-1 Plan is to provide liquidity to pay certain estate taxes of the Estate of James J. Cotter, Sr. to the terms of the estate\’s agreement with the Internal Revenue Service, as well as to pay other state taxes and expenses. The Company is further advised that, in accordance with Rule 10b5-1, neither Ellen Cotter nor Margaret Cotter will have any discretion over the sales of shares of Class A common stock under the 10b5-1 Plan. Ellen Cotter and Margaret Cotter have undertaken to disclose through appropriate filings with the Securities and Exchange Commission any such sales under the 10b5-1 Plan.
Except as may be required by law, the Company does not undertake to report Rule 10b5-1 plans that may be adopted by any officers or directors in the future, or to report any modifications or termination of any publicly announced trading plan.
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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About Reading International, Inc. (NASDAQ:RDI) Reading International, Inc. (RDI) is focused on the development, ownership and operation of multiplex cinemas, and retail and commercial real estate in the United States, Australia and New Zealand. The Company operates through two segments: cinema exhibition and real estate. The cinema exhibition segment operates multiplex cinemas. RDI’s real estate segment includes real estate development and the rental of retail, commercial and live theater assets. It manages cinema exhibition businesses around the world under various brands, including Reading Cinema, Angelika Film Centers, Consolidated Theatres and City Cinemas brands in the United States; under the Reading Cinema brand in Australia, and under the Reading Cinema and Rialto brands in New Zealand. It owns and operates approximately 50 cinemas with over 430 screens, has interests in certain unconsolidated joint ventures and entities, and manages a cinema with approximately four screens. |
