Dear HHSE Friends & Shareholders - In response to some shareholder inquiries, both Eric Parkinson and Fred Shefte wanted to provide advance notification that officer-owned shares - previously removed from Rule 144 Share Restriction and registered earlier this year with the S.E.C. - have expired and will be returned to restricted status for both Parkinson and Shefte. Each officer had previously filed a 10(b)5-1 Trading Plan, (which had been registered with the S.E.C.) to allow for the sale of 5-million shares each. These shares are now being returned, fully intact and unsold, for the holding accounts of Parkinson and Shefte.
Under Rule 144, officers and directors of publicly-traded companies may apply for a 10(b)5-1 Trading Plan to remove the sale restriction on up to 1% of the stock each quarter. Over the past four years, Parkinson and Shefte have sold less than 5-million shares each (from an initial issuance of approximately 160-million shares), reflecting their confidence in the long-term value of the HHSE equity.
The return of shares to restricted sale status will be reflected in a Form 8 filing for the Company, planned release next week.