ALL..IMHO, To bad other management teams donot think like
this......
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Tuesday December 23, 7:17 pm Eastern Time
Company Press Release
CyberGuard Announces Stock Ownership Accumulation Plan for
Executives
Plan is designed to increase accountability and more closely align the interests of
executive management with shareholders
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--December 23, 1997-- CyberGuard Corporation, (NASDAQ:
CYBG - news), a leading provider of network security and electronic commerce solutions, today announced
that the Board of Directors approved a stock ownership accumulation plan designed to have senior executives
invest in the Company's performance and to improve shareholder value.
Under the terms of the plan, senior executives will be required to accumulate company stock representing
between one and three times their annual salary over time periods that vary depending on the level of the
executive. This plan complements the incentive programs already in place, which are tied to the financial
performance of the company and functional area objectives.
''In 1997 CyberGuard has accomplished many major objectives, including growing revenues by more than
65% over the corresponding nine calendar months of 1996,'' said Robert L. Carberry, Chairman and CEO of
CyberGuard. ''We shipped major new award-winning firewall products, and entered the electronic commerce
market through the acquisition of Tradewave. The Company's product lines are well positioned for 1998 with
the readiness of the NT Firewall and the ongoing initiatives related to electronic commerce,'' Carberry stated.
''The Stock Ownership Accumulation Plan is designed to more closely align the interests of management with
those of our shareholders.''
About CyberGuard
CyberGuard Corporation (NASDAQ:CYBG - news) is a leading provider of network security and electronic
commerce solutions to Fortune 1000 companies and governments worldwide. CyberGuard's award-winning,
industrial-strength firewall and security products protect the integrity of data and applications from hackers and
digital thieves. CyberGuard's subsidiary, TradeWave, provides certificate authority products and services to
safeguard electronic-commerce applications. The US National Computer Security Center, the National
Computer Security Association and the European Information Technology Security Evaluation Criteria have
certified CyberGuard products. The company has US headquarters in Ft. Lauderdale, Florida and branch
offices worldwide. More information on CyberGuard products and services is available through an email
request to info@mail.cybg.com and from CyberGuard's web site at cyberguardcorp.com. For
copies of recent press releases via fax, at no charge, call 800/344-4297.
NOTE TO EDITORS: More information on CyberGuard products and services is available through an email
request to info@mail.cybg.com and from CyberGuard's web site at www.cyberguardcorp.com . For copies of
recent press releases via fax, at no charge, call 800/344-4297.
Contact:
Cyberguard Corporation, Fort Lauderdale
Lisa Thornhill - Media and Investor Relations
(954) 958 - 3904
lthornhill@mail.cybg.com
More Quotes and News:
Cyberguard Corp (Nasdaq:CYBG - news)
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