Voxware 8-K 2007
SECURITIES AND EXCHANGE COMMISSION
PURSUANT TO SECTION 13 OR 15(d) OF
Date of report (Date of earliest event reported): November 19, 2007
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Item 8.01. Other Events.
On November 19, 2007, Scott Yetter, President and Chief Executive Officer of Voxware, Inc., a Delaware corporation (the Company), entered into a written trading plan to sell up to an aggregate of 4,800 shares of the Companys common stock, $0.001 par value per share (the Common Stock) owned by him over a period commencing on November 19, 2007 and ending February 29, 2008. The primary purpose of Mr. Yetters trading plan is to provide Mr. Yetter with liquidity in order to cover tax payment obligations arising from Mr. Yetters September 4, 2007 award of restricted stock units. The trading plan, which was adopted under Securities Exchange Act Rule 10b5-1, will allow Mr. Yetter, in any given month during the term of the trading plan, to sell the Companys Common Stock at certain volume levels and at various prices greater than $2.50 per share. Additionally, it is anticipated that sales under the trading plan will be subject to volume limitations and other applicable requirements of Rule 144 promulgated under the Securities Act of 1933, as amended.
Rule 10b5-1 allows corporate insiders to establish pre-arranged written plans to buy or sell specified number of shares of company stock over a pre-determined period of time. Insiders may adopt such plans when they are not in possession of material inside information in order to, among other things, avoid concerns about initiating stock transactions while in possession of material nonpublic information.
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, hereunto duly authorized.