Business News

Scripps Officers Adopt 10b5-1 Trading Plans

Thursday 23. December 2010 - On Dec. 13, 2010, certain officers of The E.W. Scripps Company (NYSE: SSP) adopted stock trading plans in accordance with the guidelines specified by Rule 10b5-1 under the Securities and Exchange Act of 1934.

Rule 10b5-1 permits corporate officers, directors and others to adopt written, pre-arranged stock trading plans when they are not in possession of material, non-public information. These plans allow insiders to have shares sold for their accounts over a period of time regardless of any material, non-public information they may receive after adopting their plans.
The officers filing trading plans are part of a larger group of company executives who will be receiving Scripps Class A shares in 2011 upon the vesting of restricted share awards and restricted stock unit awards granted in prior years. The sale of Scripps shares under these trading plans is intended to help diversify the officers’ personal investment holdings and fund the payment of tax liabilities created by the vesting of the awards.
Mark G. Contreras, senior vice president, newspapers, has filed a plan to sell up to approximately 75,000 shares if certain criteria are met. Sales may commence in March 2011 and would be completed by April 2011.
Lisa A. Knutson, senior vice president, human resources for Scripps, has filed a plan to sell up to approximately 72,000 shares if certain criteria are met. Sales may commence in March 2011 and would be completed by May 2011.
Brian G. Lawlor, senior vice president, television, has filed a plan to sell up to approximately 40,000 shares if certain criteria are met. Sales may commence in March 2011 and would be completed by June 2011.
Douglas F. Lyons, vice president and controller of the company, has filed a plan to sell up to approximately 36,000 shares if certain criteria are met. Sales may commence in March 2011 and would be completed by August 2011.
Timothy E. Stautberg, senior vice president, chief financial officer and treasurer of the company, has filed a plan to sell up to approximately 36,000 shares if certain criteria are met. Sales under the plan may commence in April 2011 and would be completed by September 2011.
In accordance with 10b5-1 rules, the executives listed above will have no discretion over sales under their respective plans. All transactions under the plans will be disclosed through Form 144 and Form 4 filings with the Securities and Exchange Commission as required by applicable securities laws.