RJR Executives Establish Stock Trading Plans
November 25 2003 - 10:10AM
PR Newswire (US)
RJR Executives Establish Stock Trading Plans WINSTON-SALEM, N.C.,
Nov. 25 /PRNewswire-FirstCall/ -- Three executives of R.J. Reynolds
Tobacco Holdings, Inc. have established stock trading plans under
Rule 10b5-1 of the Securities and Exchange Act of 1934. Charles A.
Blixt, executive vice president and general counsel; Dianne M.
Neal, executive vice president and chief financial officer; and
McDara P. Folan, vice president, deputy general counsel and
secretary, filed plans to sell restricted shares issued to them as
part of the company's long-term incentive program. The shares were
granted in January 2001, will vest in January 2004, and be sold
thereafter. The final number of shares vesting is contingent upon
RJR and its subsidiaries meeting certain performance measures and
will be determined at year-end 2003, but is not expected to exceed
16,000 shares in aggregate. In addition, Blixt established a 10b5-1
plan to sell approximately 70,000 tandem stock options granted to
him in 1999, as well as about 16,700 stock options granted to him
in 1995 and 1996. In accordance with RJR's share-ownership
guidelines, all three executives will retain at least 25 percent of
the original number of restricted shares granted to them since the
company became public in 1999 in the form of RJR stock. This
generally equates to 50 percent of the net proceeds after paying
taxes. Rule 10b5-1 plans permit individuals who are not in
possession of material nonpublic information to establish
prearranged plans to buy or sell company stock. The rule allows
individuals adopting such plans to sell shares over a specified
period of time or at a specific price in the future, regardless of
any subsequent material non-public information they receive. R.J.
Reynolds Tobacco Holdings, Inc. is the parent company of R.J.
Reynolds Tobacco Company and Santa Fe Natural Tobacco Company, Inc.
R.J. Reynolds Tobacco Company is the second-largest tobacco company
in the United States, manufacturing about one of every four
cigarettes sold in the United States. Reynolds Tobacco's product
line includes four of the nation's 10 best-selling cigarette
brands: Camel, Winston, Salem and Doral. Santa Fe Natural Tobacco
Company, Inc. manufactures Natural American Spirit cigarettes and
other tobacco products, and markets them both nationally and
internationally. Copies of RJR's news releases, annual reports, SEC
filings and other financial materials are available on the
company's website, http://www.rjrholdings.com/. DATASOURCE: R.J.
Reynolds Tobacco Holdings, Inc. CONTACT: Media, Maura Payne,
+1-336-741-6996, or Investors, Carole Biermann When,
+1-336-741-5182, both of R.J. Reynolds Tobacco Holdings, Inc. Web
site: http://www.rjrholdings.com/
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