December 28, 2005

Red Hat CEO begins stock-selling plan

Matthew Szulik, chief executive of Linux seller Red Hat, has filed a plan that sets a schedule for him to sell company stock so it can be sold in the future regardless of what material information the executive knows about the company. Red Hat disclosed the plan Tuesday, saying the executive wanted to diversify his financial investments. The 10b5-1 plan, when combined with other stock sales planned for January 2006, won't exceed 27 percent of Szulik's common stock.


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