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MarketScreener Homepage  >  Equities  >  Nyse  >  AmerisourceBergen    ABC

AMERISOURCEBERGEN

(ABC)
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AMERISOURCEBERGEN CORP : Other Events (form 8-K)

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06/25/2019 | 04:09pm EDT

ITEM 8.01 Other Events.

On June 19, 2019, Steven H. Collis, Chairman, President and Chief Executive Officer of AmerisourceBergen Corporation (the "Company"), adopted a pre-arranged Rule 10b5-1 stock trading plan (the "10b5-1 plan"). Under the 10b5-1 plan, Mr. Collis may sell up to an aggregate of 238,859 shares of the Company's common stock to be acquired through the exercise of stock options which are scheduled to expire on November 13, 2020. Shares may be sold under the 10b5-1 plan on the open market at prevailing market prices and subject to minimum price thresholds specified therein. The 10b5-1 plan is scheduled to terminate on July 6, 2020, unless terminated sooner in accordance with its terms.

Mr. Collis is subject to the Company's executive stock ownership guidelines, under which he is required to hold vested shares and options valued at least six times his base salary. As of June 24, 2019, Mr. Collis beneficially owned 822,256 shares of the Company's common stock and, assuming all sales are made under the 10b5-1 plan, Mr. Collis will continue to meet the Company's executive stock ownership guidelines. In addition, Mr. Collis has unvested stock options and restricted stock units, and is eligible to receive performance shares based on the Company's cumulative performance at the end of the applicable three-year performance cycle. Mr. Collis does not expect the 10b5-1 plan to materially change his ownership position.

The 10b5-1 plan was adopted in a scheduled open window period under the Company's insider trading policy. The 10b5-1 plan was designed to comply with the guidelines specified in Rule 10b5-1 promulgated under the Securities Exchange Act of 1934, as amended, which permit persons to enter into a pre-arranged plan for buying or selling Company stock at a time when such person is not in possession of material, nonpublic information about the Company.

The transactions under the 10b5-1 plan will be disclosed publicly through Form 4 filings with the Securities and Exchange Commission. Except as may be required by law, the Company does not undertake to report on specific pre-arranged Rule 10b5-1 stock trading plans of Company officers, nor to report modifications or terminations of the aforementioned 10b5-1 plan or the plans of any other individual.


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