- Does your company have a 10b5-1 plan set up for any executive?
- Do you use E*trade or another broker for the transactions?
- What are the trading costs and/or set up costs?
1) We are currently considering setting up 10b5-1 plans for interested executives. We use E*trade as our captive broker and the fees for shares sold under a 10b5-1 plan are $.06 per share sold w/ a minimum fee per sale of $29.95. There are no set up fees w/ E*trade. (Optimer)
2) We do set up 10b5-1 plans for executives as well as highly paid employees. This is only for RSUs. We don't use E*trade. I believe we have a $25 fee plus 5 cents per share.
3) We don't have a standard plan. Each plan has to follow the rules and be approved by the Board. We use E*Trade but each executive can transfer their options/shares to their own broker. Unknown trading and/set up costs – paid by exec.
4) We have 10b5-1 plans for some of our officers. Most of the officers used Merrill Lynch which charged an 8% commission (or $0.08 per share).
5) Yes, we have a 10b5-1 for anyone who is subject to frequent black outs (i.e. some Finance people, senior level folks with access to data). We used UBS to set up the plans and administer. E-Trade is the engine. Our standard cost is $.07/share.
6) We allow our executives to set up their own plans which are then 'run’ through our legal dept to insure that it is consistent. We allow any of the broker houses (as the executive is paying for this themselves). The trading costs and/or set up costs are usually $500/year - again paid for by our executive.
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