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Date Posted: 01/21/2004
Lawson Software CEO and Chief Financial Officer Adopt Rule 10b5-1 Plans
ST. PAUL, Minn.--(BUSINESS WIRE)--Jan. 20, 2004--Lawson Software, Inc. (Nasdaq:LWSN - News) today announced that John J. Coughlan, president and chief executive officer, and Robert G. Barbieri, chief financial officer and executive vice president, have each recently entered into new plans to sell a minority portion of their Lawson stock holdings. As part of his plan, Mr. Coughlan, may sell up to 335,000 option-related shares over the period ending November 2004. This represents 12% of his current holdings of shares and all stock options, and 0.3% of the issued and outstanding common stock of Lawson Software. As part of his plan, Mr. Barbieri may sell up to 194,000 option-related shares over the period ending November 2004. This represents 16% of his total shares and all stock options, and 0.2% of the issued and outstanding common stock of Lawson Software.
The written plans, adopted in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934, allow these executives to monetize and gradually diversify a minority portion of their stock. Sales under the plans are made from time to time over the duration of the plans subject to certain price restrictions and other parameters in the plans. Rule 10b5-1 of the Securities Exchange Act of 1934 allows insiders and their affiliates to adopt written plans for trading securities in a non-discretionary, pre-scheduled manner in order to avoid concerns about initiating stock transactions when the insider or affiliate may be aware of material non-public information.
About Lawson Software
Lawson Software provides business process software solutions that help services organizations in the healthcare, retail, professional services, public sector, financial services, and other strategic markets achieve competitive advantage. Lawson's solutions include enterprise performance management, distribution, financials, human resources, procurement, retail operations and service process optimization. Headquartered in St. Paul, Minn., Lawson has offices and affiliates serving North and South America, Europe, Asia, Africa and Australia. Additional information about Lawson is available at www.lawson.com.
Forward-Looking Statements
This press release contains forward-looking statements. These forward-looking statements contain statements of intent, belief or current expectations of Lawson Software, Inc., and its management. Such forward-looking statements are not guarantees of future results and involve risks and uncertainties that may cause actual results to differ materially from the potential results discussed in the forward-looking statements. The company is not obligated to update forward-looking statements based on circumstances or events which occur in the future. In addition to factors discussed above, risks and uncertainties that may cause such differences include but are not limited to: uncertainties in the software industry; global military conflicts; terrorist attacks in the United States, and any future events in response to these developments; changes in conditions in the company's targeted service industries; increased competition and other risk factors listed in the company's most recent Annual Report on Form 10-K and 10-Q filed with the Securities and Exchange Commission and as included in other documents the company files from time to time with the Commission.
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Contact:
Lawson Software, Inc., St. Paul
Media:
Terry Blake, 651-767-4766
terry.blake@lawson.com
or
Investors:
Barbara Doyle, 651-767-4385
barbara.doyle@lawson.com
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Source: Lawson Software, Inc.
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