WHEELING, W.Va., June 15 /PRNewswire-FirstCall/ -- Wheeling-Pittsburgh
Corporation (Nasdaq: WPSC) announced today that its Chief Executive Officer,
its President, and each of its Vice Presidents have entered into 10b5-1 plans
in order to sell a portion of their Restricted Stock. The restrictions on such
shares lapse on Aug. 12, 2005.
A total of 47,990 shares will be sold by the eight officers in August in
order to pay tax obligations due as a result of the lapsing of restrictions on
their Restricted Stock. In addition, as part of such plans two officers expect
to sell an additional combined 13,564 shares over the four weeks following
such lapse of restrictions, at market price, subject to certain price
thresholds. These two plans were entered in order to diversify the portfolios
of these officers in an orderly manner.
This release may contain projections or other forward-looking statements
regarding future events or the future financial performance of Wheeling-
Pittsburgh Corporation that involve risks and uncertainties. Readers are
cautioned that these forward-looking statements are only predictions and may
differ materially from actual future events or results. Readers are referred
to the "Business - Risk Factors" section of the Company's Annual Report on
Form 10-K for the year ended December 31, 2004, and other reports and filings
with the SEC, which identify important risk factors that could cause actual
results to differ from those contained in the forward-looking statements.
About Wheeling-Pittsburgh:
Wheeling-Pittsburgh is a steel company engaged in the making, processing
and fabrication of steel and steel products using both integrated and electric
arc furnace technology. The Company's products include hot rolled and cold
rolled sheet and coated products such as galvanized, pre-painted and tin mill
sheet. The Company also produces a variety of steel products including roll
formed corrugated roofing, roof deck, floor deck, bridgeform and other
products used primarily by the construction, highway and agricultural markets.
SOURCE Wheeling-Pittsburgh Corporation
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Related links:
http://www.wpsc.com
Company News On-Call:
http://www.prnewswire.com/comp/967451.html
CONTACT:
Jim Kosowski of Wheeling-Pittsburgh
Corporation, +1-304-234-2440
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