MILWAUKEE – Briggs & Stratton Corporation
announced Monday that two members of the company’s
leadership have entered into individual stock trading plans
in accordance with Rule 10b5-1 of the Securities Exchange
Act of 1934.
Todd J. Teske, Chairman, president and chief executive
officer, and Joseph C. Wright, senior vice president and
president - Engines Group, have entered into individual
Teske and Wright informed Briggs & Stratton that under its
trading plans they plan to sell 30,000 shares and 9,400
shares, respectively, of common stock that would be issued
as a result of the exercise of stock options that will
expire in August 2014.
“The purpose of the plans is to provide these executive
officers with the ability to exercise their expiring options
and sell the underlying company common stock in an orderly
manner and avoid concerns about the timing of the
transactions,” according to the announcement.
Headquartered in Milwaukee, Briggs & Stratton produces lawn
mower engines and small engines. Every year, 3,000 employees
build over 10 million small engines in the United States.