CSG Chairman to Sell Shares9/08/2004 8:50 AM Eastern
CSG Systems International Inc. chairman and CEO Neal Hansen established a plan to sell stock on a regular basis, the billing- and customer-care-solutions vendor said Wednesday.
The company said Hansen’s plan is in accordance with Securities and Exchange Commission Rule 10b5-1, which allows employees to adopt written plans at a time when they are not in possession of material nonpublic information and to sell shares according to plan on a regular basis, regardless of stock price or any subsequent nonpublic information that might be received.
"I've held the majority of my stock for nearly 10 years," Hansen said in a prepared statement. "This predetermined plan will allow me to diversify a portion of my holdings in an orderly manner."