CLARENCE, N.Y., June 11, 2002 (PRIMEZONE) -- Wilson Greatbatch Technologies, Inc. ("WGT") (NYSE:GB), a leading developer and manufacturer of power sources and other critical components used in implantable medical devices and other technically demanding applications, today announced that its Board of Directors has recently approved an amendment to the company's insider trading policy that will permit its officers and directors to adopt stock trading plans in accordance with SEC Rule 10b5-1.
Rule 10b5-1 allows insiders to enter into written plans for predetermined trades of specified amounts of company stock. The purpose of 10b5-1 trading plans is to permit officers and directors who may, from time to time, be in possession of material non-public information to gradually diversify their investments, to minimize the market effect of stock sales by spreading them out over time and to alleviate concerns about stock transactions being initiated through insider information.
"I believe these plans are good for the company, for our executives and for the market," said Edward F. Voboril, Chairman of the Board, President and Chief Executive Officer. "These plans permit our senior management to diversify some of their stock holdings while assuring the company and the market that the trades are not on the basis of material, non-public information."
It is expected that the following executives will enter into trading plans in the near future: Edward F. Voboril, Larry T. DeAngelo, Susan M. Bratton and Curtis F. Holmes.
Wilson Greatbatch Technologies, Inc. with operations in New York, Maryland, Massachusetts and Nevada, is a leading developer and manufacturer of power sources and other critical components used in implantable medical devices and other technically demanding applications. Additional information about Wilson Greatbatch Technologies, Inc. is available at www.greatbatch.com.