UNIVERSAL ELECTRONICS INC. (NASDAQ:UEIC) Files An 8-K Other EventsItem 8.01Other Events
Gregory P. Stapleton, a member of the Board of Directors of Universal Electronics Inc., has established a new trading plan with an effective date of August 17, 2017, in accordance with Rule 10b5-1 of the Securities Exchange Act. Rule 10b5-1 promulgated under the Securities Exchange Act of 1934 permits an individual who is not then in possession of material nonpublic information to establish a prearranged plan to buy or sell stock. The rule allows an individual to buy or sell shares of stock at a specific price in the future, regardless of any subsequent material nonpublic information.
Under the plan, Mr. Stapleton intends to sell no more than 20,000 shares of Universal Electronics common stock through the exercise of stock options from time to time commencing August 28, 2017 and continuing until April 24, 2018, subject to certain specified price limits. These stock options were issued to him as part of his compensation as an outside director and are set to expire at the end of business on April 24, 2018. This plan will facilitate the orderly sale of common stock for Mr. Stapleton’s personal financial planning purposes with the goal of minimizing any market impact and avoiding any concerns about the timing of the transactions.
About UNIVERSAL ELECTRONICS INC. (NASDAQ:UEIC)
Universal Electronics Inc. (UEI) develops control and sensor technology solutions and manufactures a line of pre-programmed and universal remote control products, audio-video (AV) accessories, and intelligent wireless security and automation components. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls that are sold primarily to subscription broadcasting providers, original equipment manufacturers (OEMs), retailers, and private label customers, and integrated circuits, on which its software and universal device control database is embedded, sold primarily to OEMs, subscription broadcasting providers, and private label customers. Its offerings also include software, firmware and technology solutions that enable devices, such as televisions, set-top boxes, stereos, smart phones tablets, gaming controllers and other consumer electronic devices to wirelessly connect and interact with home networks and interactive services.