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Harvard Bio President Initiates Major Stock Sale

NEW YORK, March 15 (GenomeWeb News) - Harvard Bioscience said yesterday that President David Green has established a stock-trading plan that will enable him to sell up to 894,963 shares of common stock over the next three years.

 

The plan is in accordance with Rule 10b5-1 of a Securities and Exchange Commission act that permits directors or officers who do not have "material, non-public information" to establish prearranged plans to buy or sell company stock, Harvard Bio said. The company said that the plan has been established to allow Green to "gain liquidity in an orderly, prearranged manner."

 

Green's prior Rule 10b5-1 plan expired on Dec. 31, 2005, and a portion of the shares covered by his new plan are shares that were covered by this prior plan, but were not sold prior to its expiration, Harvard Bio said.

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