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Reynolds American Chairman Establishes Stock Trading Plan
WINSTON-SALEM, N.C., Aug. 4 /PRNewswire-FirstCall/ -- Andrew J. Schindler, the
executive chairman of Reynolds American Inc. (NYSE:RAI) has established a
stock-trading plan under Rule 10b5-1 of the Securities and Exchange Act of
1934. After the sales of shares and options he has authorized under this plan,
Schindler will continue to own approximately 75,000 shares of RAI stock.
Schindler, who plans to retire in six months and become non-executive chairman
of RAI, has never cashed any of his stock options or restricted shares other
than to pay tax withholdings. Before instituting the 10b5-1 plan, Schindler
discussed his intentions with, and received concurrence from, the board of
directors of R.J. Reynolds Tobacco Holdings, Inc. (RJR), which became a wholly
owned subsidiary of RAI on July 30, 2004.
The sale of shares will occur over a five month period and will allow Schindler
to appropriately balance his personal finances for his upcoming retirement. He
currently holds approximately 465,000 RAI options and approximately 118,000
shares of RAI stock.
Lynn J. Beasley, president and chief operating officer of R.J. Reynolds Tobacco
Company, a subsidiary of RAI, and Charles A. Blixt, executive vice president
and general counsel of RAI, also established 10b5-1 stock-trading plans.
Beasley's plan covers 10,000 shares, after the execution of which she will own
approximately 24,300 shares. Blixt's plan covers approximately 16,450 shares,
after the execution of which he will own approximately 14,300 shares. Both
executives entered into the plans in order to balance their personal investment
portfolios.
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 nonpublic information they receive.
Reynolds American Inc. is the parent company of R.J. Reynolds Tobacco Company,
Santa Fe Natural Tobacco Company, Inc., Lane Limited and R.J. Reynolds Global
Products, Inc. R.J. Reynolds Tobacco Company, the second- largest U.S. tobacco
company, manufactures about one of every three cigarettes sold in the United
States, including five of the nation's 10 best-selling brands: Camel, Winston,
KOOL, 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. Lane Limited manufactures several
roll-your-own, pipe tobacco and little cigar brands, and distributes Dunhill
tobacco products. R.J. Reynolds Global Products, Inc. manufactures, sells and
distributes American-blend cigarettes and other tobacco products to a variety
of customers worldwide. Copies of RAI's news releases, annual reports, SEC
filings and other financial materials are available on the company's Web site,
http://www.reynoldsamerican.com/ .
DATASOURCE: Reynolds American Inc.
CONTACT: Media, Maura Payne, +1-336-741-6996, or Investors, Carole
Biermann When, +1-336-741-5182, both of Reynolds American
Web site: http://www.rjrt.com/