MeetMe CEO Trades Under 10b5-1 Plan
January 26 2015 - 3:18PM
Business Wire
MeetMe, Inc. (NASDAQ: MEET), the public market leader for social
discovery, today announced that in accordance with a previously
adopted stock-trading plan, Geoffrey Cook, Chief Executive Officer,
has sold 30,000 shares of the Company’s common stock. Mr. Cook had
previously established the stock-trading plan in accordance with
Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, and
the Company's insider trading policy.
Mr. Cook entered into the plan as part of his personal financial
planning strategy of asset diversification. It provides for
periodic sales of the Company’s common stock (subject to various
price thresholds) over the course of this calendar year, up to a
maximum of 480,000 shares. If all of the shares subject to the
trading plan were sold, Mr. Cook would retain approximately 80
percent of his current holdings (including stock options
exercisable within 60 days of today).
Rule 10b5-1 plans allow corporate officers and directors to
adopt written, pre-arranged stock trading plans when they are not
in possession of material, non-public information. Such plans
typically establish parameters for future stock transactions to
take place automatically. Transactions under the plan are disclosed
publicly through filings with the Securities and Exchange
Commission.
About MeetMe, Inc.
MeetMe® is the leading social network for meeting new people in
the US and the public market leader for social discovery (NASDAQ:
MEET). MeetMe makes it easy to discover new people to chat with on
mobile devices. With approximately 80 percent of traffic coming
from mobile and more than one million total daily active users,
MeetMe is fast becoming the social gathering place for the mobile
generation. MeetMe is a leader in mobile monetization with a
diverse revenue model comprising advertising, native advertising,
virtual currency, and subscription. MeetMe apps are available on
iPhone, iPad, and Android in multiple languages, including English,
Spanish, Portuguese, French, Italian, German, Chinese (Traditional
and Simplified), Russian, Japanese, Dutch, Turkish and Korean. For
more information, please visit meetmecorp.com.
Cautionary Note Concerning Forward-Looking Statements
Certain statements in this press release are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, including whether Mr. Cook will sell shares of
the Company’s common stock in the future as anticipated, both with
respect to the timing and amounts of shares, as well as the amount
of shares that Mr. Cook will retain and the amount of shares Mr.
Cook will retain as a percentage of his current holdings, and
whether transactions under the plan will be disclosed publicly
through filings with the Securities and Exchange Commission as
contemplated and in a timely fashion. All statements other than
statements of historical facts contained herein are forward-looking
statements. The words “believe,” “may,” “estimate,” “continue,”
“anticipate,” “intend,” “should,” “plan,” “could,” “target,”
“potential,” “project,” “is likely,” “expect” and similar
expressions, as they relate to us, are intended to identify
forward-looking statements. We have based these forward-looking
statements largely on our current expectations and projections
about future events and financial trends that we believe may affect
our financial condition, results of operations, business strategy
and financial needs. Important factors that could cause actual
results to differ from those in the forward-looking statements
include the risk that our applications will not function easily or
otherwise as anticipated, the risk that we will not launch
additional features and upgrades as anticipated, the risk that
unanticipated events affect the functionality of our applications
with popular mobile operating systems, any changes in such
operating systems that degrade our mobile applications’
functionality and other unexpected issues which could adversely
affect usage on mobile devices. Further information on our risk
factors is contained in our filings with the Securities and
Exchange Commission (“SEC”), including the Form 10-K for the year
ended December 31, 2013, the Prospectus Supplement (Rule 424(b)(5))
filed on July 24, 2014, and the Current Report on Form 8-K filed on
December 29, 2014. Any forward-looking statement made by us herein
speaks only as of the date on which it is made. Factors or events
that could cause our actual results to differ may emerge from time
to time, and it is not possible for us to predict all of them. We
undertake no obligation to publicly update any forward-looking
statement, whether as a result of new information, future
developments or otherwise, except as may be required by law.
Investor Contact:MKR Group, Inc.Todd Kehrli or Jim
Byers(323) 468-2300meet@mkr-group.com
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