LOUISVILLE, Ky., Oct. 23 /PRNewswire-FirstCall/ -- Almost Family, Inc.
(Nasdaq: AFAM): William B. Yarmuth, Almost Family's Chairman and CEO and
one of its founding shareholders since 1976 today announced that he has
entered into a formal plan for the sale of 100,000 shares of Almost Family
common stock or approximately 17% of his current holdings in open market
transactions in 2009.
The formal Rule 10b5-1 Sales Plan calls for Mr. Yarmuth to sell up to
50,000 shares at prices no lower than $40 per share. He would sell the
remaining 50,000 shares at prices no lower than $50 per share. No sales
would occur before January 1, 2009.
Yarmuth, 56, cited diversification of personal wealth and estate
planning as reasons for his plan. He currently has no health issues or
retirement plans and the plan to sell shares has no implication on his role
as Almost Family's Chairman and CEO.
Mr. Yarmuth currently directly owns 559,870 shares or 6.9% of total
outstanding shares of Almost Family and for many years he has been the
Company's largest individual shareholder. Although he has historically
gifted a relatively small number of shares to charitable foundations, Mr.
Yarmuth has never previously sold shares of Almost Family in open market
transactions.
Based on currently outstanding shares and known holdings of existing
individual shareholders, following the sale of all 100,000 shares, Mr.
Yarmuth's direct holdings would amount to 459,870 shares or 5.7% of total
outstanding shares and he would continue to be the Company's largest
individual shareholder.
According to NASDAQ, Almost Family's average daily trading volume for
the 50 trading days ended October 22, 2008 was approximately 287,000
shares.
SOURCE Almost Family, Inc.
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Related links:
http://www.almost-family.com
http://www.prnewswire.com/comp/784275.html /
CONTACT:
Steve Guenthner of Almost Family, Inc.,
+1-502-891-1000
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