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8-K - FORM 8-K - UNIVERSAL ELECTRONICS INC | a56093e8vk.htm |
Exhibit 99.1
NEWS
Contacts: Paul Arling (UEI) 714.820.1000
Kirsten Chapman (IR Agency) 415.433.3777
Kirsten Chapman (IR Agency) 415.433.3777
UNIVERSAL ELECTRONICS CHAIRMAN AND CHIEF
EXECUTIVE OFFICER ADOPTS A 10b5-1 TRADING PLAN
EXECUTIVE OFFICER ADOPTS A 10b5-1 TRADING PLAN
CYPRESS, CA May 11, 2010 Universal Electronics Inc. (UEI), (NASDAQ: UEIC) announced Paul
Arling, chairman and chief executive officer, has established a new trading plan in accordance with
Rule 10b5-1 of the Securities Exchange Act. Rule 10b5-1 permits individuals who are not then in
possession of material nonpublic information to establish prearranged plans to buy or sell stock.
The rule allows individuals to buy or sell shares of stock at a specific price in the future,
regardless of any subsequent material nonpublic information.
Under the plan, Arling intends to exercise up to 80,000 employee stock options, which were granted
in August 2000 and are set to expire in August 2010, and to sell the underlying shares of UEI
common stock beginning May 12, 2010 and continuing from time to time until the expiration date of
the options, subject to the market price of the companys common stock, all as set forth in his
trading plan. This process will facilitate the orderly exercise of employee stock options and the
sale of common stock for personal financial planning purposes with the goal of minimizing any
market impact and avoiding any concerns about the timing of the transactions.
About Universal Electronics Inc.
Founded in 1986, Universal Electronics Inc. (UEI) is the global leader in wireless control
technology for the connected home. UEI designs, develops, and delivers innovative solutions that
enable consumers to control entertainment devices, digital media, and home systems. The companys
broad portfolio of patented technologies and database of infrared control software have been
adopted by many Fortune 500 companies in the consumer electronics, subscription broadcast, and
computing industries. UEI sells and licenses wireless control products through distributors and
retailers under the One For All® brand name. UEI also delivers complete home control solutions in
the professional custom installation market under the brand name Nevo®, as well as software
solutions for digital media control and enjoyment in the consumer and OEM markets under the brand
SimpleCenter. For additional information, visit our web site at www.uei.com.
Safe Harbor Statement
This press release contains certain forward-looking statements, as defined under U.S. federal
securities laws, with respect to the trading plan described above. These forward-looking statements
are based upon current plans and expectations. Readers are cautioned not to place undue reliance on
any forward-looking statements. Forward looking statements are necessarily subject to risks,
uncertainties and other factors, many of which are outside the control of the Company. These risks,
uncertainties and other factors are described from time to time in the Companys reports filed with
the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on
which such statement is made, and the Company undertakes no obligation to update or revise any
forward-looking statement, whether as a result of new information, future events or otherwise.