World Fuel Services Corporation Chief Executive Officer Enters into Pre-Arranged Stock Trading Plan
December 15 2009 - 6:30PM
Business Wire
World Fuel Services Corporation (NYSE:INT) today announced that
its Chairman and Chief Executive Officer, Paul H. Stebbins, has
entered into a pre-arranged, non-discretionary stock trading
plan.
Under the newly adopted plan, beginning on January 15, 2010 and
ending on December 31, 2010, Mr. Stebbins may sell a maximum of
256,000 shares, which represents approximately 20% of his holdings.
The sales are being made for diversification and tax planning
purposes and will be publicly disclosed through Form 4 filings with
the Securities and Exchange Commission. The plan was adopted in
accordance with guidelines specified under Rule 10b5-1 of the
Securities Exchange Act of 1934, as amended, and World Fuel
Services’ policies regarding stock transactions.
Rule 10b5-1 permits individuals who are not in possession of
material, non-public information at the time the plan is adopted to
establish pre-arranged plans to buy or sell company stock. These
plans allow individuals to achieve prudent and gradual asset
diversification over time.
About World Fuel Services
Corporation
Headquartered in Miami, Florida, World Fuel Services is a global
leader in the marketing and sale of marine, aviation and land fuel
products, as well as related services. World Fuel Services sells
fuel and delivers services to its clients at more than 6,000
locations in more than 190 countries, including airports, seaports,
tanker truck loading terminals and other customer storage
locations. With 44 strategically located global offices (including
satellite offices), World Fuel Services offers its clients a
value-added outsource service for the supply, quality control,
logistical support and price risk management of marine, aviation
and land fuel.
The Company's global team of market makers provides deep domain
expertise in all aspects of marine, aviation and land fuel
management. World Fuel Services' marine customers include
international container and tanker fleets and time-charter
operators, as well as the United States and foreign governments.
Aviation customers include commercial airlines, cargo carriers and
corporate clientele, as well as the United States and foreign
governments. Land customers include petroleum distributors, retail
petroleum operators, and industrial, commercial and government
accounts. For more information, call 305-428-8000 or visit
http://www.wfscorp.com.
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