|WellPoint Chairman, President and CEO Establishes 10b5-1 Equity Plan|
INDIANAPOLIS, May 4 /PRNewswire-FirstCall/ -- WellPoint, Inc. (NYSE: WLP) announced today that Larry C. Glasscock, the company's chairman, president and chief executive officer, has established a personal stock trading plan in accordance with Rule 10b5-1 under the Securities and Exchange Act of 1934 and the company's policies with respect to insider sales.
Rule 10b5-1 plans permit directors, officers and other company insiders to adopt written plans at times when they are not in possession of material, non- public information under which they can purchase or sell shares at predetermined times and price parameters in the future. These pre-planned trades can then be executed at a later date, as spelled out in the plan, without further action by the director, officer or other company insider and without regard to any subsequent non-public information the individual might have received.
"I continue to firmly believe that WellPoint is well positioned for continued success in the coming years and will become the most trusted choice for consumers and a leader in affordable quality care," said Glasscock. "In conjunction with my announced June 1 retirement as president and CEO, I am adopting the 10b5-1 plan on the advice of my financial advisors for financial diversification purposes and will continue to maintain significant ownership of WellPoint stock."
Under the stock trading plan, Glasscock plans to exercise stock options and sell shares representing approximately 25% of his holdings which includes stock, stock options and restricted stock grants. These transactions will take place over the next ten months.
Transactions under this Rule 10b5-1 plan will be disclosed publicly through Form 4 filings as required by the SEC.
About WellPoint, Inc.
WellPoint's mission is to improve the lives of the people it serves and the health of its communities. WellPoint, Inc. is the largest health benefits company in terms of commercial membership in the United States. Through its nationwide networks, the company delivers a number of leading health benefit solutions through a broad portfolio of integrated health care plans and related services, along with a wide range of specialty products such as life and disability insurance benefits, pharmacy benefit management, dental, vision, behavioral health benefit services, as well as long term care insurance and flexible spending accounts. Headquartered in Indianapolis, Indiana, WellPoint is an independent licensee of the Blue Cross and Blue Shield Association and serves its members as the Blue Cross licensee for California; the Blue Cross and Blue Shield licensee for Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri (excluding 30 counties in the Kansas City area), Nevada, New Hampshire, New York (as Blue Cross Blue Shield in 10 New York City metropolitan and surrounding counties and as Blue Cross or Blue Cross Blue Shield in selected upstate counties only), Ohio, Virginia (excluding the Northern Virginia suburbs of Washington, D.C.), Wisconsin; and through UniCare. Additional information about WellPoint is available at www.wellpoint.com.
SOURCE WellPoint, Inc.
CONTACT: Media: James P. Kappel, +1-317-488-6400, or Investor Relations: Wayne S. DeVeydt, +1-317-488-6390, both of WellPoint, Inc.