CMC CEO adopts stock trading plan
Irving, TX— Commercial Metals
Company announced that Stanley A. Rabin, chairman and chief executive
officer, has executed a prearranged systematic personal stock
trading plan pursuant to, and intended to comply with, Rule 10b5-1
under the Securities Exchange Act of 1934 and with CMC’s
policies with respect to insider sales.
Rule 10b5-1 permits officers
and directors of public companies to establish prearranged written
plans for selling specified amounts of stock over a predetermined
period of time. The plans may be entered into only when the insider
is not in possession of material, nonpublic information and may
be modified or revoked only in limited circumstances. The plans
permit the gradual and orderly diversification of investment portfolios
for estate planning.
Rabin has directed an unaffiliated
broker to sell up to 180,000 shares of CMC common stock over a
period of approximately 36 months. The sales, to be made at quarterly
intervals commencing no earlier than February 10, 2006, are part
of Rabin’s personal estate planning goals.
If the sale of all the 180,000
shares under the trading plan is completed, Rabin would continue
to own beneficially more than 1,070,000 shares of Commercial Metals
Company common stock including existing options or equivalents
exercisable within 60 days.