CSCD » Topics » Item 8.01. OTHER EVENTS

This excerpt taken from the CSCD 8-K filed Aug 24, 2005.

Item 8.01.              OTHER EVENTS

 

On May 31, 2005,  several members of the management team of Cascade Microtech, Inc., (“Cascade Microtech”), Eric Strid, its Chairman and Chief Executive Officer and a director, Reed Gleason, its Vice President, Advanced Development and a director, Bruce McFadden, its VP and General Manager, Pyramid Probe Division, John Pence, its VP and General Manager, Engineering Products Division, and F. Paul Carlson, a director, established stock trading plans in accordance with Rule 10b5-1 of the General Rules and Regulations promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, to provide for pre-determined sales of a portion of their Cascade Microtech common stock, subject to certain contingencies.

 

Under the Rule 10b5-1 plans, Mr. Strid will sell up to a maximum of 250,000 shares over a period of up to 15 months, which represents approximately 14% of Mr. Strid’s current direct and indirect holdings of Cascade Microtech common stock and options to purchase common stock and less than 2% of the currently outstanding common stock of Cascade Microtech at June 30, 2005; Mr. Gleason will sell up to a maximum of 250,000 shares over a period of up to 15 months, which represents approximately 15% of Mr. Gleason’s current holdings of Cascade Microtech common stock and options to purchase common stock and less than 2% of the currently outstanding common stock of Cascade Microtech; Mr. McFadden will sell up to a maximum of 107,000 shares over a period of up to 15 months, which represents approximately 38% of Mr. McFadden’s current holdings of Cascade Microtech common stock and options to purchase common stock and less than 1% of the currently outstanding common stock of Cascade Microtech; Mr. Pence will sell up to a maximum of 64,654 shares over a period of up to 15 months, which represents approximately 38% of Mr. Pence’s current holdings of Cascade Microtech common stock and options to purchase common stock and less than 1% of the currently outstanding common stock of Cascade Microtech; and Mr. Carlson will sell up to a maximum of 25,000 shares over a period of up to 15 months, which represents approximately 16% of Mr. Carlson’s current holdings of Cascade Microtech common stock and options to purchase common stock and less than 1% of the currently outstanding common stock of Cascade Microtech.

 

The Rule 10b5-1 plans identified above were adopted in May 2005 during an open trading window for company employees under the Company’s Statement of Policy Regarding Insider Trading. The first sales of shares of Cascade Microtech common stock under these Rule 10b5-1 plans will not occur for at least 90 days following when the plans were adopted, which is expected to occur in early September, 2005. Rule 10b5-1 permits the implementation of written, prearranged stock trading plans by insiders when the insiders are not in possession of material non-public information, and allows the insiders to trade on a regular basis, regardless of any subsequent material non-public information they receive. Such plans allow insiders to diversify their holdings and to minimize the market impact of stock sales by spreading them out over time.  Transactions under the plans will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission.

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized on August 24, 2005.

 

 

 

CASCADE MICROTECH, INC.

 

 

(Registrant)

 

 

 

 

 

 

 

 

By

/s/ Steven Sipowicz

 

 

 

 

Steven Sipowicz

 

 

 

Vice President and Chief Financial Officer

 

2


Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki