Press release from Business Wire
Synchronoss Technologies, Inc. Director Adopts 10B5-1 Trading Plan
Tuesday, December 14, 2010
Synchronoss Technologies, Inc. Director Adopts 10B5-1 Trading Plan06:30 EST Tuesday, December 14, 2010
BRIDGEWATER, N.J. (Business Wire) -- Synchronoss Technologies, Inc. (Nasdaq: SNCR), today announced that
James M. McCormick, one of its founders has adopted a pre-arranged stock
trading plan to sell a portion of his company stock over time as part of
his individual long-term strategy for asset diversification and
liquidity. The stock trading plan was adopted in accordance with
guidelines specified under Rule 10b5-1 of the Securities and Exchange
Act of 1934 and Synchronoss' policies regarding stock transactions by
insiders. The transactions under this plan will be disclosed publicly
through Form 144 and Form 4 filings with the Securities and Exchange
Commission. The Form 4 filings will also be posted on Synchronoss'
investor's relations Web site.
Under his Rule 10b5-1 plan, Mr. McCormick may sell up to 775,987 shares,
or approximately 15% of the shares of Synchronoss stock he beneficially
owns, during 2011. If Mr. McCormick completes all the planned sales of
shares under his Rule 10b5-1 plan, he would continue to be one of
Synchronoss' largest shareholders.
Rule 10b5-1 allows insiders to adopt written, pre-arranged stock trading
plans when they do not have material, non-public information. Using
these plans, insiders can gradually diversify their investment
portfolios, can spread stock trades out over an extended period of time
to reduce any market impact and can avoid concerns about whether they
had material, non-public information when they sold their stock. Once
established, the insider retains no discretion over purchases and sales
under a Rule 10b5-1 plan. The pre-arranged trades may then be executed
through a broker at later dates without regard to any subsequent
material non-public information the insider may receive.
ABOUT SYNCHRONOSS TECHNOLOGIES INC.
Synchronoss Technologies (NASDAQ: SNCR) is the leading global provider
of on-demand transaction management technology. The company's
ConvergenceNow®, ConvergenceNow® Plus+™ and
InterconnectNow™ technology platforms enable communication service
providers, cable operators, retailers/e-tailers and OEMs to automate subscriber
activation, order management, provisioning and content transfer and
synchronization of connected devices, across any network from any
distribution channel. For more information visit us at:
Web: www.synchronoss.com
Blog: http://blog.synchronoss.com
Twitter: http://twitter.com/synchronoss
The Synchronoss logo, Synchronoss, ConvergenceNow, InterConnectNow
and ConvergenceNow Plus+ are trademarks of Synchronoss Technologies, Inc.All other trademarks are property of their respective owners.
Synchronoss Technologies, Inc.Media:Stacie Hiras,
908-547-1260Stacie.hiras@synchronoss.comorInvestor:Tim
Dolan, 617-956-6727investor@synchronoss.com
