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Popeyes Louisiana Kitchen chief brand officer adopts trading plan

Popeyes Louisiana Kitchen announced its chief brand officer has established a stock trading plan.

March 28, 2016

Popeyes Louisiana Kitchen announced that Richard H. Lynch, chief brand officer, has established a trading plan in accordance with Rule 10b5-1 of the Securities Exchange Act. Rule 10b5-1 permits individuals who are not then in possession of material non-public information to establish pre-arranged plans to buy or sell stock. The rule allows individuals to buy or sell shares of stock at a specific price in the future, regardless of any subsequent material non-public information, according to a company press release.

This plan was adopted to enable Lynch to exercise and sell a portion of his PLKI stock options as part of his long-term tax and asset diversification strategy. Utilizing this type of plan, Lynch can diversify his investment portfolio, spreading stock trades out over an extended period of time, reducing market impact. If all sales in this plan are transacted, Lynch's holdings will continue to remain in excess of three times his base salary.

Under the plan, Lynch intends to exercise up to 8,300 stock options, subject to the market price of the company's common stock, which were granted in August 2009 and are set to expire in August 2016, all as set forth in his trading plan. The trading plan goes into effect March 29 and will expire on April 15, the release stated.