Advanced Medical Optics Establishes Rule 10b5-1 Stock Trading Program
March 16 2005 - 6:00AM
PR Newswire (US)
Advanced Medical Optics Establishes Rule 10b5-1 Stock Trading
Program SANTA ANA, Calif., March 16 /PRNewswire-FirstCall/ --
Advanced Medical Optics, Inc. (AMO) (NYSE:AVO), a global leader in
ophthalmic surgical devices and eye care products, today announced
that it has implemented a stock trading program in accordance with
Rule 10b5-1 of the Securities and Exchange Act of 1934. The program
permits participating company executives and board members to adopt
pre-arranged plans to buy or sell pre-determined amounts of AMO
stock over time in compliance with AMO's insider trading policies
and stock ownership guidelines. Rule 10b5-1 allows corporate
officers and directors, including entities within their control, to
adopt written plans for trading securities in a non-discretionary,
pre-arranged manner in order to avoid concerns about initiating
stock transactions when the insider may be aware of non-public
information. Under these plans, insiders can systematically
diversify their investment portfolios, spread stock trades out over
an extended period of time in order to reduce any market impact,
and avoid concerns about whether they had material, non-public
information when they bought or sold the company's stock. This is
not a change to AMO's insider trading policies, which have
permitted Rule 10b5-1 trading plans since AMO's inception. No sales
by company executives will be permitted before the completion of
the proposed merger of AMO and VISX, Incorporated. AMO announced in
November 2004 that it had reached an agreement with VISX to acquire
the company for a combination of cash and stock. The transaction
requires approval of both companies' stockholders. AMO expects to
close the transaction in the second quarter of 2005. Jim Mazzo, AMO
president and chief executive officer, has established a stock
trading plan under the AMO program to acquire shares pursuant to
stock options that are nearing expiration. As part of this plan,
Mr. Mazzo will exercise employee stock options for 268,515 shares
over a period of approximately three years. These options expire
beginning in January 2006, with the latest to expire in early 2008.
The plan provides that Mr. Mazzo will sell only the number of
shares required to cover the option exercise price and taxes
associated with the stock transactions and retain the remaining
shares. About Advanced Medical Optics (AMO) AMO is a global leader
in the development, manufacturing and marketing of ophthalmic
surgical and eye care products. The company focuses on developing a
broad suite of innovative technologies and devices to address a
wide range of eye disorders. Products in the ophthalmic surgical
line include intraocular lenses, phacoemulsification systems,
viscoelastics, microkeratomes and related products used in cataract
and refractive surgery. AMO owns or has the rights to such
ophthalmic surgical product brands as Phacoflex(R), Clariflex(R),
Array(R), Sensar(R), CeeOn(R), Tecnis(R) and Verisyse(TM)
intraocular lenses, Sovereign(R) and Sovereign(R) Compact(TM)
phacoemulsification systems with WhiteStar(TM) technology,
Amadeus(TM) and Amadeus(TM) II microkeratomes, Healon(R) and
Vitrax(R) viscoelastics, and the Baerveldt(R) glaucoma shunt.
Products in the contact lens care line include disinfecting
solutions, daily cleaners, enzymatic cleaners and lens rewetting
drops. Among the contact lens care product brands the company
possesses are COMPLETE(R) Moisture PLUS(TM), COMPLETE(R)
Blink-N-Clean(R), Consept(R)F, Consept(R) 1 Step, Oxysept(R) 1
Step, UltraCare(R), Ultrazyme(R), Total Care(R) and blink(TM)
branded products. Amadeus is a licensed product of, and a trademark
of, SIS, Ltd. AMO is based in Santa Ana, California, and employs
approximately 2,800 worldwide. The company has operations in about
20 countries and markets products in approximately 60 countries.
For more information, visit the company's Web site at
http://www.amo-inc.com/. Advanced Medical Optics, Inc. Investors:
Sheree Aronson (714) 247-8290 Media: Steve Chesterman (714)
247-8711 DATASOURCE: Advanced Medical Optics, Inc. CONTACT:
investors, Sheree Aronson, +1-714-247-8290, , or media, Steve
Chesterman, +1-714-247-8711, , both of Advanced Medical Optics,
Inc. Web site: http://www.amo-inc.com/
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