Press Release
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Adopts 10B5-1 Stock Trading Plan
RANCHO SANTA MARGARITA, Calif., Sep 12, 2011 (BUSINESS WIRE) --
Liquidmetal(R) Technologies Inc. (OTCBB: LQMT) today announced that Mr. Thomas Steipp, President and Chief Executive Officer, adopted a personal stock trading plan on September 2011, pursuant to, and intended to comply with, Rule 10b5-1 under the Securities Exchange Act of 1934.
Under the stock trading plan, Mr. Steipp, plans to sell up to 450,000 shares of Liquidmetal common stock over a period of approximately 40 days, commencing on October 24, 2011, as part of a strategy for personal tax planning with respect to Liquidmetal shares which will vest in December 2011.
Rule 10b5-1 allows corporate officers and directors to adopt written, pre-arranged stock trading plans when they are not in possession of material, non-public information. Liquidmetal corporate policy allows employees to enter into pre-arranged stock trading plans so long as they are intended to comply with Rule 10b5-1. Other Liquidmetal executives may enter into similar trading plans in the future. Shares to be sold under the Rule 10b5-1 plan adopted by Mr. Steipp represent approximately 20% percent of his personal holdings of Liquidmetal common stock, including his vested restricted stock, as of December 31, 2011.
Transactions under this plan will be disclosed publicly through Form 144 and Form 4 filings as required by the SEC.
About Liquidmetal Technologies
Rancho Santa Margarita, California-based Liquidmetal Technologies, Inc. is the leading developer of bulk alloys and composites, coatings and powders that utilize the performance advantages offered by amorphous alloy technology. Amorphous alloys are unique materials that are distinguished by their ability to retain a random structure when they solidify, in contrast to the crystalline atomic structure that forms in ordinary metals and alloys. Liquidmetal Technologies is the first company to produce amorphous alloys in commercially viable bulk form, enabling significant improvements in products across a wide array of industries.
SOURCE: Liquidmetal Technologies, Inc.
Liquidmetal Technologies
Otis Buchanan, 949-635-2120
otis.buchanan@liquidmetal.com