FORT WASHINGTON, Pa., Jun 16, 2010 (BUSINESS WIRE) --Kulicke & Soffa Industries, Inc. (NASDAQ: KLIC) ("K&S") today announced that C. Scott Kulicke, Chief Executive Officer, has modified an existing stock trading plan to sell K&S common stock and established a new trading plan to sell certain shares granted to him as equity compensation that are scheduled to vest in October 2010. Mr. Kulicke entered into these plans in connection with his scheduled retirement and as part of his personal long-term strategy for asset diversification. The stock trading plans were adopted in accordance with rule 10b5-1 of the Securities and Exchange Act of 1934, as amended.
Rule 10b5-1 permits corporate officers and directors to adopt written, pre-arranged stock trading plans when they do not possess 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.
The modifications to Mr. Kulicke's existing 10b5-1 plan will be effective for trades on or after August 15, 2010. Under his Rule 10b5-1 plans, Mr. Kulicke may sell up to 690,000 shares of K&S common stock through August 15, 2011, subject to certain minimum price restrictions and other contingencies.
Transactions under this plan will be disclosed publicly through Form 144 and Form 4 filings as required by the SEC.
About Kulicke & Soffa
Kulicke & Soffa (NASDAQ: KLIC) is a global leader in the design and manufacture of semiconductor assembly equipment. As one of the pioneers of the industry, K&S has provided customers with market leading packaging solutions for decades. In recent years K&S has expanded its product offerings through strategic acquisitions, adding die bonding, wedge bonding and a broader range of expendable tools to its core ball bonding products. Combined with its extensive expertise in process technology, K&S is well positioned to help customers meet the challenges of assembling the next-generation semiconductor devices. (www.kns.com)
SOURCE: Kulicke & Soffa Industries, Inc.
Kulicke & Soffa Industries, Inc.
Joseph Elgindy
Investor Relations
P: 215-784-7518
F: 215-784-6180
jelgindy@kns.com
or
Headgate Partners LLC
Claire E. McAdams
P: 530-265-9899
F: 530-265-9699
claire@headgatepartners.com
