Scripps officers adopt 10b5-1 trading plans

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Mar 28, 2014, 08:30 ET

CINCINNATI, March 28, 2014 /PRNewswire/ -- Earlier this month, 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 sale of Scripps shares under these trading plans is intended to help diversify the officers' personal investment holdings.

Bill Appleton, senior vice president and general counsel, has filed a plan to sell up to approximately 18,900 shares if certain criteria are met. Sales may commence on April 14, 2014, and would be completed by Dec. 1, 2014.

Lisa A. Knutson, senior vice president and chief administrative officer, has filed a plan to sell up to approximately 22,300 shares and 34,400 shares underlying options if certain criteria are met. Sales of the shares and shares underlying options may commence on April 14, 2014, and would be completed by May 12, 2014.

Timothy E. Stautberg, senior vice president, newspapers, has filed a plan to sell up to approximately 51,600 shares underlying options if certain criteria are met. Sales of the shares underlying options may commence on April 14, 2014, and would be completed by Aug. 11, 2014.

Adam P. Symson, senior vice president and chief digital officer, has filed a plan to sell up to approximately 10,600 shares and 17,200 shares underlying options if certain criteria are met. Sales of the shares and shares underlying options may commence on April 14, 2014, and would be completed by Aug. 12, 2014.

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.

About Scripps

The E.W. Scripps Company (www.scripps.com) serves audiences and businesses through a growing portfolio of television, print and digital media brands. After approval of its acquisition of two Granite Broadcasting stations later this year, Scripps will own 21 local television stations as well as daily newspapers in 13 markets across the United States. It also runs an expanding collection of local and national digital journalism and information businesses including digital video news service Newsy. Scripps also produces television programming, runs an award-winning investigative reporting newsroom in Washington, D.C., and serves as the longtime steward of one of the nation's largest, most successful and longest-running educational programs, Scripps National Spelling Bee. Founded in 1879, Scripps is focused on the stories of tomorrow.

SOURCE The E.W. Scripps Company