Featherlite (NASDAQ:FTHR)
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Jeffery A. Mason has announced his intention to retire
as chief financial officer of Featherlite, Inc. on December 31, 2006.
Mason, 64, has been CFO of Featherlite, Inc. (Nasdaq:FTHR) since
August 1989 and a director of the Company since June 1993. The
announcement was made at the Featherlite board meeting on May 10,
2005.
"We greatly appreciate Jeff Mason's 16 years of dedicated
service," said Conrad Clement, Featherlite President and CEO. "His
financial leadership at Featherlite has been exceptional. We are
grateful that Jeff has given us a year-and-a-half to find his
successor, which will help assure an optimum transition."
In connection with Mr. Mason's upcoming retirement, he intends to
exercise substantially all stock options he currently owns, which
represent the right to purchase approximately 228,000 shares of common
stock, and, subject to a minimum sales price condition, to sell such
shares over approximately the next 19 months in accordance with a
trading plan he has entered into in accordance with Securities and
Exchange Act Rule 10b5-1. Rule 10b5-1 enables corporate officers and
directors to adopt pre-arranged stock trading plans at a time when
they do not have material, non-public information. Among other
alternatives, the rule allows individuals adopting such plans to sell
shares over a specified period of time or at a specific price in the
future, regardless of any subsequent material non-public information
they may receive.
Featherlite (www.fthr.com) is a leader in designing, manufacturing
and marketing high quality aluminum specialty trailers, transporters
and luxury motorcoaches.