RJ Reynolds Tob (NYSE:RJR)
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RJR Executives Establish Stock Trading Plans
WINSTON-SALEM, N.C., Nov. 25 /PRNewswire-FirstCall/ -- Three executives of R.J.
Reynolds Tobacco Holdings, Inc. have established stock trading plans under Rule
10b5-1 of the Securities and Exchange Act of 1934.
Charles A. Blixt, executive vice president and general counsel; Dianne M. Neal,
executive vice president and chief financial officer; and McDara P. Folan, vice
president, deputy general counsel and secretary, filed plans to sell restricted
shares issued to them as part of the company's long-term incentive program. The
shares were granted in January 2001, will vest in January 2004, and be sold
thereafter. The final number of shares vesting is contingent upon RJR and its
subsidiaries meeting certain performance measures and will be determined at
year-end 2003, but is not expected to exceed 16,000 shares in aggregate.
In addition, Blixt established a 10b5-1 plan to sell approximately 70,000 tandem
stock options granted to him in 1999, as well as about 16,700 stock options
granted to him in 1995 and 1996.
In accordance with RJR's share-ownership guidelines, all three executives will
retain at least 25 percent of the original number of restricted shares granted
to them since the company became public in 1999 in the form of RJR stock. This
generally equates to 50 percent of the net proceeds after paying taxes.
Rule 10b5-1 plans permit individuals who are not in possession of material
nonpublic information to establish prearranged plans to buy or sell company
stock. 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 receive.
R.J. Reynolds Tobacco Holdings, Inc. is the parent company of R.J. Reynolds
Tobacco Company and Santa Fe Natural Tobacco Company, Inc. R.J. Reynolds
Tobacco Company is the second-largest tobacco company in the United States,
manufacturing about one of every four cigarettes sold in the United States.
Reynolds Tobacco's product line includes four of the nation's 10 best-selling
cigarette brands: Camel, Winston, Salem and Doral. Santa Fe Natural Tobacco
Company, Inc. manufactures Natural American Spirit cigarettes and other tobacco
products, and markets them both nationally and internationally. Copies of RJR's
news releases, annual reports, SEC filings and other financial materials are
available on the company's website, http://www.rjrholdings.com/.
DATASOURCE: R.J. Reynolds Tobacco Holdings, Inc.
CONTACT: Media, Maura Payne, +1-336-741-6996, or Investors, Carole
Biermann When, +1-336-741-5182, both of R.J. Reynolds Tobacco Holdings, Inc.
Web site: http://www.rjrholdings.com/