Bombardier Establishes Automatic Securities Disposition Plan
August 15 2018 - 3:48PM
Not for distribution to U.S. news wire services or
public dissemination in the United States
Bombardier announced today that it has established an automatic
securities disposition plan (“ASDP”) in accordance with applicable
Canadian provincial securities legislation. The ASDP allows for the
exercise and sale of vested securities earned by certain senior
executives of Bombardier as part of their overall performance-based
compensation.
Under Canadian securities laws and the Company’s trading
policies, senior executives of Bombardier are subject to limits on
their ability to sell shares in the Company. The ASDP addresses
this issue by permitting trades to be made in accordance with
pre-arranged instructions given when participants are not in
possession of any material undisclosed information.
Sales of shares under the ASDP will be effected by an
independent securities broker in accordance with the trading
parameters, price and volume limits and other instructions set out
by participants in the ASDP. Participants will not exercise any
further discretion or influence over how dispositions will occur
and are subject to restrictions on their ability to modify, suspend
or terminate their participation in the ASDP. In accordance with
best practices, the ASDP also includes a waiting period of 30 days
from the date of adoption for the first dispositions under the
plan.
The ASDP plan reflects sound corporate governance and
compensation policy. It allows for the realization of earned
long-term incentive compensation in an organized manner and avoids
concerns about initiating transactions while in possession of
material non-public information.
Senior executives subject to Bombardier’s minimum stock
ownership guidelines may only sell shares through the ASDP in
excess of the required ownership threshold applicable to them,
ensuring further alignment of the financial interest of company’s
executives and its shareholders.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy securities in any jurisdiction nor
will there be any sale of these securities in any province, state
or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such province, state or jurisdiction. This
press release does not constitute an offer to sell or the
solicitation to buy securities in the United States. The securities
mentioned herein have not been and will not be registered under the
U.S. Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent registration or an applicable
exemption from registration requirements.
About Bombardier With over 69,500 employees
across four business segments, Bombardier is a global leader in the
transportation industry, creating innovative and game-changing
planes and trains. Our products and services provide world-class
transportation experiences that set new standards in passenger
comfort, energy efficiency, reliability and safety.
Headquartered in Montreal, Canada, Bombardier has production and
engineering sites in 28 countries across the segments of
Transportation, Business Aircraft, Commercial Aircraft and
Aerostructures and Engineering Services. Bombardier shares are
traded on the Toronto Stock Exchange (BBD). In the fiscal year
ended December 31, 2017, Bombardier posted revenues of $16.2
billion US. News and information are available at bombardier.com or
follow us on Twitter @Bombardier.
Bombardier is a trademark of Bombardier Inc.
For
Information |
|
Simon LetendreManager,
Media Relations and Public AffairsBombardier Inc.+514 924 4893 |
Nabil PertickDirector,
Investor RelationsBombardier Inc.+514 861 9481 |