World Fuel Services Corporation CEO Enters into Pre-Arranged Stock Trading Plan
September 16 2011 - 8:00AM
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 October 14, 2011 and
ending on October 14, 2012, Mr. Stebbins may sell a maximum of
150,000 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
leading global fuel logistics company, principally engaged in the
marketing, sale and distribution of aviation, marine and land fuel
products and related services on a worldwide basis. World Fuel
Services sells fuel and delivers services to its clients at more
than 6,000 locations in 200 countries and territories, including
airports, seaports, tanker truck loading terminals and other
customer storage locations. With 48 strategically located global
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. Aviation customers include commercial airlines, cargo
carriers, private aircraft and fixed base operators (FBO's), as
well as the United States and foreign governments. World Fuel
Services' marine customers include international container and
tanker fleets, cruise lines and time-charter operators, 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 www.wfscorp.com.
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