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Technology Stocks : American Superconductor (AMSC) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (599)	3/18/2004 1:39:47 AM
From: David C. Burns	Respond to of 973

American Superconductor CEO Adopts 10b5-1 Trading Plan WESTBOROUGH, Mass., March 17 /PRNewswire-FirstCall/-- American Superconductor Corporation (Nasdaq: AMSC), a leading electricity solutions company, today announced that its chief executive officer, Dr. Greg Yurek, has adopted a pre-arranged stock trading plan in accordance with guidelines specified in Rule 10b5-1 under the Securities Exchange Act of 1934. Rule 10b5-1 enables persons such as corporate officers and directors to adopt pre-set stock trading plans for selling specified amounts of stock. Such a plan may only be entered into when the person adopting the plan is not in possession of material, non-public information. The rule allows individuals adopting such plans to sell shares over a specified amount of time, at specific prices in the future, even if material non-public information subsequently becomes available to them. Dr. Yurek's plan, which becomes effective immediately, has been established to allow him to diversify his investment portfolio through the sale of shares of AMSC stock and through the exercise and sale of vested stock options in an orderly, pre-arranged manner. The plan provides for Dr. Yurek to sell less than 15% of the common stock currently held by him or subject to stock options held by him, including options that are set to expire on their 10-year anniversary. Dr. Yurek's 10b5-1 plan terminates on March 17, 2005. Any transactions carried out under the provisions of the plan will be reported through Form 4 filings with the Securities and Exchange Commission. "Now that many of my stock options are about to expire, it is time to put in place a plan that will allow for exercise and sale of these long-held stock options while I continue to retain a significant stock position in AMSC," said Dr. Yurek. Earlier this week, Dr. Yurek exercised certain stock options, and sold the underlying shares, that were set to expire on May 1, 2004, which is during the period of time that executives of AMSC are not permitted to exercise stock options. That period of time starts two weeks before the end of a quarter and continues until the third business day after earnings for a quarter or for the year end are announced. About American Superconductor Corporation (Nasdaq: AMSC) AMSC is a world-leading supplier of dynamic reactive power grid stabilization products and the world's principal vendor of high temperature superconductor (HTS) wire and large rotating superconductor machinery. AMSC's power electronic converters and HTS wire are at the core of a broad range of new electricity transmission and distribution, transportation, medical and industrial processing applications, including dynamic reactive power grid stabilization solutions, large ship propulsion motors and generators, smart, controllable, superconductor power cables and advanced defense systems. The Company's products are supported by hundreds of patents and licenses covering technologies fundamental to Revolutionizing the Way the World Uses Electricity(TM). More information is available at amsuper.com. American Superconductor, SuperMachines, PowerModule and Revolutionizing the Way the World Uses Electricity are trademarks of American Superconductor Corporation. All other trademarks are the property of their respective owners.