Electronics Inc. (UEI), (NASDAQ: UEIC) announced that on November 29, 2013, Paul Arling, chairman and
chief executive officer, established a trading plan in accordance with Rule
10b5-1 of the Securities Exchange Act (the “Plan”). Rule 10b5-1 permits
individuals who are not then in possession of material nonpublic information to
establish prearranged plans to buy or sell stock. The rule allows individuals
to buy or sell shares of stock at a specific price in the future, regardless of
any subsequent material nonpublic information.
Under the Plan,
Arling intends to exercise up to 72,000 employee stock options and to
immediately sell the underlying shares of UEI common stock beginning
immediately and continuing from time to time until May 1, 2014, the date on
which the Plan terminates, subject to the market price of our common
stock. This process will facilitate the orderly exercise of employee stock
options and the sale of common stock for personal financial planning purposes
with the goal of minimizing any market impact and avoiding any concerns about
the timing of the transactions.
About Universal Electronics Inc.
Founded in 1986, Universal Electronics Inc. (UEI) is
the global leader in wireless control technology for the connected home.
UEI designs, develops, and delivers innovative solutions that enable consumers
to control entertainment devices, digital media, and home systems. The
company’s broad portfolio of patented technologies and database of infrared
control software have been adopted by many Fortune 500 companies in the consumer
electronics, subscription broadcast, and computing industries. UEI sells and
licenses wireless control products through distributors and retailers under the
One For All® brand name.
Paul Arling (UEI) 714.918.9500
Becky Herrick (IR