Hector Communic (AMEX:HCT)
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Hector Communications Corporation's Chairman and CEO Adopts
10b5-1 Plan
HECTOR, Minn., Nov. 11 /PRNewswire-FirstCall/ -- Hector Communications
Corporation (AMEX:HCT) announced today that Curtis A. Sampson, the Company's
Chairman of the Board and Chief Executive Officer, has entered into a pre-
arranged, systematic trading plan to sell Hector Communications Corporation
(HCC) shares in accordance with guidelines specified by Rule 10b5-1 under the
Securities Exchange Act of 1934 and HCC policies with respect to insider sales.
Rule 10b5-1 permits officers and directors of public companies to adopt
pre-determined plans for selling specified amounts of stock. The plans may be
entered into only when the director or officer is not in possession of
material, nonpublic information and may be used to gradually diversify
investment portfolios over a period of time.
Mr. Sampson's 10b5-1 Plan provides for the sale of approximately 39,000 shares
of HCC common stock beginning November 11, 2004. As of November 11, 2004, Mr.
Sampson beneficially owned approximately 600,000 HCC common shares. Mr. Sampson
has designated a target price for the sale of the HCC shares covered by the
10b5-1 Plan. If HCC stock is not trading at or above the target price, the
shares covered by the 10b5-1 Plan may not be sold.
Hector Communications Corporation is a telecommunications holding company which
through its subsidiaries provides telecommunications services in rural
communities in Minnesota, Wisconsin and North Dakota. HCC serves 29,700
telephone access lines, 8,200 cable television subscribers and 10,800 internet
customers and has minority ownership interests in many other telecommunications
companies.
HCC shares are traded on the American Stock Exchange under the symbol HCT. For
more information on HCC, please visit http://www.hectorcom.com/ .
DATASOURCE: Hector Communications Corporation
CONTACT: Curtis A. Sampson, Chairman and Chief Executive Officer,
Steven H. Sjogren, President and Chief Operating Officer, or Paul N. Hanson,
Vice President-Finance, of Hector Communications Corporation, +1-320-848-6231
Web site: http://www.hectorcom.com/