RealPage, Inc. (NASDAQ:RP) Files An 8-K Regulation FD DisclosureItem 7.01. Regulation FD Disclosure.
On June14, 2018, Seren Captial, Ltd. (“Seren Capital”), an affiliate of Steve Winn, Chairman, President and CEO of RealPage, Inc. (“RealPage”), adopted a pre-arranged stock trading plan in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and RealPage’s policies regarding transactions related to its stock (the “Trading Plan”).
The Trading Plan was adopted to enable Seren Capital to sell a portion of its RealPage common stock over time as part of its and Mr. Winn’s long-term strategy for asset diversification and liquidity. The transactions under the Trading Plan will be disclosed publicly through Form 4 filings with the Securities and Exchange Commission. Utilizing this type of trading plan, Seren Capital can gradually diversify its investment portfolio, spreading stock trades out over an extended period of time and reducing market impact. In addition, as a result of being established well in advance of a potential trade, the Trading Plan helps avoid concerns as to whether Mr.Winn or Seren Capital, as his affiliate, had material, non-public information when a decision is made to sell stock. Under the Trading Plan, potential sales would be made starting in September 2018 and continue through September 2019.
The information furnished in this Current Report on Form 8-K under Item 7.01 hereto shall not be deemed "filed" for purposes of Section 18 of the Exchange Act, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act.
About RealPage, Inc. (NASDAQ:RP)
RealPage, Inc. is a provider of on demand software and software-enabled solutions for the rental housing industry. The Company’s property management solutions enables owners and managers of single family and multifamily rental property types to manage their marketing, pricing, screening, leasing, accounting, purchasing and other property operations. Its on demand software solutions are delivered through an integrated software platform that provides a single point of access and a shared repository of prospect, renter and property data. The Company’s platform consists of primary categories of solutions, including Property Management, Leasing and Marketing, Resident Services and Asset Optimization. These solutions provide complementary sales and marketing, asset optimization, risk mitigation, billing and utility management and spend management capabilities that collectively enable its customers to manage the stages of the renter life cycle.