This excerpt taken from the ATML DEF 14A filed Apr 27, 2009.
Stock Ownership Guidelines and Certain Trading Restrictions
Pursuant to our Corporate Governance Principles, stock ownership for our directors and executive officers is encouraged. In addition, our executive officers and certain other individuals subject to our Insider Trading Policy are prohibited from engaging in transactions in publicly-traded options, such as puts and calls, and other derivative transactions with respect to Atmels securities. This prohibition extends to hedging or similar transactions designed to decrease the risks associated with holding Atmel securities.