HUNT VALLEY, Md.--(BUSINESS WIRE)--Feb. 12, 2018--
Technologies Incorporated(NASDAQ:TESS) today announced that Robert
B. Barnhill Jr., age 73, Tessco’s Chairman and Founder, has adopted a
prearranged trading plan in accordance with Rule 10b5-1 of the
Securities and Exchange Act of 1934, and with the Company’s policies
regarding insider stock transactions.
Mr. Barnhill’s 10b5-1 Trading Plan is intended to permit the orderly
sale of a portion of his holdings as part of his personal long-term
financial plan for asset diversification and liquidity. The amount of
shares covered under the trading plan represents approximately 12
percent of his equity position in the Company.
The trading plan was established in accordance with guidelines specified
under Rule 10b5-1 of the Securities Exchange Act of 1934 and the
Company’s policies regarding insider sales. Rule 10b5-1 permits
directors, officers and other company insiders to adopt prearranged
written plans for selling specified amounts of stock at times when they
are not in possession of material, non-public information. The
pre-planned trades can then be executed through a broker at later dates
without further action by the director, officer or other company insider
and without regard to any subsequent material non-public information
that the individual may receive.
Transactions under this Rule 10b5-1 plan will be disclosed publicly
through Form 4 filings as required by the SEC.
About TESSCO Technologies Incorporated (NASDAQ: TESS)
TESSCO Technologies Incorporated (NASDAQ: TESS) is a value-added
technology distributor, manufacturer and solutions provider. Tessco was
founded more than 30 years ago with a commitment to deliver
industry-leading products, knowledge, solutions and customer service and
supports customers in the public and private sector. Tessco supplies
more than 50,000 products from 400 of the industry’s top manufacturers
in mobile communications, Wi-Fi, Internet of Things, wireless backhaul
and more. Tessco is a single source for outstanding customer experience,
expert knowledge and complete end-to-end solutions for the wireless
industry. For more information, visit www.tessco.com.
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Source: TESSCO Technologies Incorporated
TESSCO Technologies Incorporated
Aric Spitulnik, 410-229-1419
David Calusdian, 617-542-5300