IRVING, Texas, Jan. 27 /PRNewswire-FirstCall/ -- Commercial Metals Company
(NYSE: CMC) today announced that Stanley A. Rabin, Chairman and Chief
Executive Officer, has executed a prearranged systematic personal stock
trading plan pursuant to, and intended to comply with, Rule 10b5-1 under the
Securities Exchange Act of 1934 and with CMC's policies with respect to
insider sales.
Rule 10b5-1 permits officers and directors of public companies to
establish prearranged written plans for selling specified amounts of stock
over a predetermined period of time. The plans may be entered into only when
the insider is not in possession of material, nonpublic information and may be
modified or revoked only in limited circumstances. The plans permit the
gradual and orderly diversification of investment portfolios for estate
planning and other purposes.
Under the plan, Mr. Rabin, 67 years of age, has directed a broker
unaffiliated with the company to sell, subject to certain conditions, up to
180,000 shares of CMC common stock over a period of approximately 36 months,
ending in February 2009. The sales, to be made at roughly quarterly intervals
commencing no earlier than February 10, 2006, are part of Mr. Rabin's personal
estate planning goals.
If the sale of all the 180,000 shares under the trading plan is completed,
Mr. Rabin would continue to own beneficially more than 1,070,000 shares of
Commercial Metals Company common stock including existing options or
equivalents exercisable within 60 days. All sales under the plan will be
disclosed publicly through Form 144 and Form 4 filings with the Securities and
Exchange Commission. The Form 4 filings will also be posted on the company's
website http://www.commercialmetals.com under "About the Company" "Investor
Relations" at "Section 16 Filings."
Commercial Metals Company and subsidiaries manufacture, recycle and market
steel and metal products, related materials and services through a network
including steel minimills, steel fabrication and processing plants,
construction-related product warehouses, a copper tube mill, metal recycling
facilities and marketing and distribution offices in the United States and in
strategic overseas markets.
SOURCE Commercial Metals Company
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Related links:
http://www.commercialmetals.com
CONTACT:
Debbie Okle, Director, Public Relations of
Commercial Metals Company, +1-214-689-4354
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