Item 8.01 Other Events.
The trading plan is designed to facilitate the orderly exercise of employee stock options as part of personal financial planning, with the goal of minimizing market impact and avoiding any concerns about the timing of the transactions. The plan is in accordance with the guidelines specified by Rule 10b5-1 under the Securities Exchange Act of 1934.
Rule 10b5-1 permits corporate officers, directors and others to adopt written,
pre-arranged stock trading plans when they are not in possession of material,
non-public information. Using these plans, insiders may gradually diversify
their investment portfolios and spread stock trades over a period of time
regardless of any material, non-public information they may receive after
adopting their plans. In accordance with 10b5-1 rules,
All transactions under the plans will be disclosed through Form 144 and Form 4
filings with the
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