BEDFORD, Mass., Aug. 5, 2004 /PRNewswire-FirstCall/ -- Hologic, Inc. (NASDAQ: HOLX), a leading provider of women's diagnostic imaging systems and state-of- the-art digital imaging systems, today announced that two executives of the company have established trading plans adopted in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934 and the Company's insider trading policy.
Glenn P. Muir, Executive Vice President and Chief Financial Officer, and Jay A. Stein, Chairman Emeritus and Chief Technical Officer, each adopted a Rule 10b5-1 trading plan on August 5, 2004, while not in possession of any material nonpublic information.
During the term of Mr. Muir's trading plan, Mr. Muir will exercise stock options, scheduled to expire on June 28, 2005, for an aggregate of 60,000 shares, and the shares acquired upon exercise will be sold for his account at specified times in 2004 at price levels above the current market price and the remainder at specific times in 2005 at market price prior to the expiration of the option.
During the term of Dr. Stein's trading plan, Dr. Stein will exercise stock options, scheduled to expire on June 28, 2005, for an aggregate of for 90,000 shares, and the shares acquired upon exercise will be sold for his account at specified times at market price. In addition, under his trading plan, Dr. Stein will sell 90,000 shares of his company stock as part of his individual long-term strategy for asset diversification and liquidity.
Rule 10b5-1(c) allows officers and directors to adopt written plans to sell shares under pre-arranged terms when they do not have material nonpublic information. The rule allows officers and directors adopting such plans to sell shares over a specified amount of time, at specific prices in the future, even if subsequent material and non-public information becomes available to them. Using these plans, officers and directors can gradually diversify their investment portfolios, can spread stock trades out over an extended period of time to reduce any significant market impact and can avoid concerns about whether they had material nonpublic information when they sold their stock. Sales of stock by Messrs. Muir and Stein, pursuant to the terms of the plans, will be disclosed publicly through Form 144 and Form 4 filings with the Securities and Exchange Commission.
About Hologic Inc.
Hologic Inc. is a leading developer, manufacturer and supplier of medical imaging systems dedicated to serving the healthcare needs of women, and a leading developer of state-of-the-art digital imaging technology for general radiography and mammography applications. Hologic's core business units are focused on osteoporosis assessment, mammography and breast biopsy, direct-to- digital X-ray for general radiography applications and mini C-arm imaging for orthopedic applications.
Contact: Frances Crecco Director, Investor Relations Hologic, Inc. (781) 999-7377
SOURCE: Hologic Inc.
CONTACT: Frances Crecco, Director, Investor Relations of Hologic, Inc.,
Web site: http://www.hologic.com/