Fri 16 Sep 2011, 14:21 GMT

Stebbins enters into stock trading plan


World Fuel Services CEO to sell company stock over 12-month period.



World Fuel Services Corporation has announced that its chairman and chief executive officer, Paul H. Stebbins, has entered into a pre-arranged, non-discretionary stock trading plan.

Under the newly adopted plan, beginning on October 14, 2011 and ending on October 14, 2012, Stebbins may sell a maximum of 150,000 shares, which represents approximately 20 percent of his holdings.

The company said the sales are being made for diversification and tax planning purposes and will be publicly disclosed through Form 4 filings with the Securities and Exchange Commission. The plan was adopted in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, and World Fuel Services' policies regarding stock transactions.

Rule 10b5-1 permits individuals who are not in possession of material, non-public information at the time the plan is adopted to establish pre-arranged plans to buy or sell company stock. These plans allow individuals to achieve prudent and gradual asset diversification over time.

Stebbins, who is due to step down as CEO in January 2012 and continue as executive chairman, entered into a similar stock trading plan in 2009. He sold 50,000 company shares in August 2009 after selling a similar amount of shares towards the end of July 2009.

Between August 4-5 2009, Stebbins sold 2,880 shares at a weighted average sale price of $44.9113 and 47,120 shares at an average price of $44.9597.

The previous week, the WFS CEO also sold a total of 50,000 shares between July 28-30 with 20,500 shares selling at a weighted average sale price of $42.9204 and 29,500 shares at $43.4855.

Last year Stebbins entered into a stock trading plan for the sale of a maximum of 256,000 shares between January 15, 2010 and December 31, 2010.


CPN as China's No. 1 marine biofuel supplier in 2025 graphic. Chimbusco Pan Nation delivers 170,000 tonnes of marine biofuel in China in 2025  

Supplier says volumes quadrupled year on year, with a 6,300-tonne B24 operation completed during the period.

V.Group and Njord logo side by side. V.Group acquires Njord to expand decarbonisation services for shipowners  

Maritime services provider buys Maersk Tankers-founded green technology business to offer integrated fuel-efficiency solutions.

Container vessel manoeuvring in port. Has Zhoushan just become the world's third-largest bunker port?  

With 2025 sales of 8.03m tonnes for the Chinese port, Q4 data for Antwerp-Bruges will decide which location takes third place.

Monjasa Oil & Shipping Trainee (MOST) trainees. Monjasa opens applications for global trainee programme  

Marine fuel supplier seeks candidates for MOST scheme spanning offices from Singapore to New York.

Singapore's first fully electric harbour tug. Singapore's first fully electric tug completes commissioning ahead of April deployment  

PaxOcean and ABB’s 50-tonne bollard-pull vessel represents an early step in harbour craft electrification.

Fuel for thought: Hydrogen report cover. Lloyd's Register report examines hydrogen's potential and challenges for decarbonisation  

Classification society highlights fuel's promise alongside safety, infrastructure, and cost barriers limiting maritime adoption.

Bureau Veritas and Straits Bio-LNG sign MoU. BV Malaysia partners with Straits Bio-LNG on sustainable biomethane certification  

MoU aims to establish ISCC EU-certified biomethane production and liquefaction facility in strategic alliance.

Molgas Energy logo. Molgas becomes non-clearing member at European Energy Exchange  

Spanish energy company joins EEX as it expands European operations and strengthens shipper role.

Yiannis Diamandopoulos, Elinoil. Diamandopoulos appointed CEO of Elinoil as Aligizakis becomes chairman  

Greek marine lube supplier announces leadership changes following board meeting on 5 January.

Sustainable Marine Fuel Services webinar hosted by BV graphic. Bureau Veritas to host webinar on sustainable marine fuel transition challenges  

Classification society to address regulatory compliance, market trends, and investment strategies in February online event.





 Recommended