MANITOWOC, Wis., Feb. 16, 2010 (GLOBE NEWSWIRE) -- Orion Energy Systems Inc. (Nasdaq:OESX) announced that, on Feb. 16, 2010, Neal R. Verfuerth, its chairman and chief executive officer, and his wife, Patricia A. Verfuerth, Orion's vice president of operations, entered into a prearranged Rule 10b5-1 trading plan to sell later during Orion's fiscal 2010 fourth quarter 80,000 shares of Orion's common stock in order to generate sufficient cash proceeds to assist them in paying personal taxes. As a result of this sale of shares, Mr. and Mrs. Verfuerth's combined direct stock ownership in the company will decrease by only approximately 2.5% and together they will still beneficially own 3,122,867 shares, or about 14.0% of Orion's outstanding shares. Together, they will remain Orion's largest shareholders.
Orion Energy Systems Inc. (Nasdaq:OESX) is a leading power technology enterprise that designs, manufactures and implements energy management systems, consisting primarily of high-performance, energy-efficient lighting platforms, intelligent wireless control systems and direct renewable solar technology for commercial and industrial customers without compromising their operations. For more information, visit www.oesx.com.
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