This excerpt taken from the BARE 8-K filed Dec 22, 2006.
On December 15, 2006, entities affiliated with John Hansen and Michael John, members of the board of directors of Bare Escentuals, Inc., a Delaware corporation (the Company), adopted pre-arranged sales plans in accordance with SEC Rule 10b5-1 and the Companys policies regarding stock transactions by directors, officers and employees (the Plans). Under the Plans, a brokerage firm will sell a portion of the shares of Companys common stock owned by these entities over a period of approximately nine months, in preset quarterly increments, beginning as early as April 2007. Shares will be sold under the Plans on the open market at prevailing market prices, subject to minimum price thresholds set forth in the Plans.
Rule 10b5-1 allows persons who are not aware of material, non-public information to adopt written, pre-arranged trading plans. Individuals may use these plans to diversify their investment portfolios over time. The Companys officers and directors may adopt similar plans in the future. The Company does not undertake to report Rule 10b5-1 plans that may be adopted by any of our officers or directors in the future, or to report any modifications or termination of any publicly announced plan, except to the extent required by law.