Power Integrations' CEO Adopts 10b5-1 Trading Plan
Power Integrations Inc. (San Jose, CA), a leader in power conversion semiconductor technology, announced that Balu Balakrishnan, a member of the board of directors and its president and chief executive officer, has adopted a stock trading plan in accordance with guidelines specified by the Securities and Exchange Commissions Rule 10b5-1.
The one-year plan is effective August 4, 2003, and expires August 4, 2004, unless terminated earlier. Rule 10b5-1 allows employees, at a time when they are not aware of material nonpublic information, to adopt written plans to sell shares on a pre-specified basis, regardless of any subsequent nonpublic information they may receive. Under the plan, Balakrishnan may sell up to a total of 52,000 shares. The sales may take place from time to time, subject to certain market conditions over the next year.