Medifast Announces Adoption of Rule 10b5-1 Plan by Executive Officer For Stock Trading

Medifast, Inc. MED, a leading United States manufacturer and provider of clinically proven weight-loss and healthy living products and programs, announced today that President & Chief Operating Officer, Margaret Sheetz, has adopted an individual stock trading plan. The trading plan is designed to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and with the Company's insider trading policy. Ms. Sheetz informed the Company that she intends to sell up to a total of 100,000 shares of Company common stock, a portion of her total holdings. The plan expires on May 31, 2016. The goal of the plan is to diversify Ms. Sheetz's investment portfolio, while limiting market impact from such stock sales.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsManagement
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!