Mellanox Technologies Executive Officer Adopts 10b5-1 Stock Trading Plan
Mellanox® Technologies, Ltd. (NASDAQ: MLNX; TASE: MLNX), a leading supplier of high-performance, end-to-end interconnect solutions for data center servers and storage systems, today announced that Jacob Shulman, chief financial officer, has adopted a stock trading plan to sell a portion of his ordinary shares of the company in an orderly manner. Mr. Shulman's plan is adopted in accordance with the guidelines specified by Rule 10b5-1 under the Securities and Exchange Act of 1934.
Rule 10b5-1 permits corporate officers, directors and others to adopt written, pre-arranged stock trading plans when they are not in possession of material, non-public information. Using these plans, insiders may gradually diversify their investment portfolios and spread stock trades over a period of time regardless of any material, non-public information they may receive after adopting their plans. In accordance with 10b5-1 rules, Mr. Shulman will have no discretion over sales under their respective plans.
Under Mr. Shulman's plan, Mr. Shulman may sell up to 12,972 shares, subject to satisfaction of certain conditions. If the conditions are met, sales under the plan may commence in February 1, 2013 and would be completed by November 1, 2013. The sales by Mr. Shulman under his plan are intended to diversify his securities holdings and to help meet estate planning goals.
Mellanox Technologies is a leading supplier of end-to-end InfiniBand and Ethernet interconnect solutions and services for servers and storage. Mellanox interconnect solutions increase data center efficiency by providing the highest throughput and lowest latency, delivering data faster to applications and unlocking system performance capability. Mellanox offers a choice of fast interconnect products: adapters, switches, software and silicon that accelerate application runtime and maximize business results for a wide range of markets including high performance computing, enterprise data centers, Web 2.0, cloud, storage and financial services. More information is available at www.mellanox.com.
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