MILWAUKEE, May 26 /PRNewswire-FirstCall/ -- Marshall & Ilsley Corporation , a diversified financial services company, today announced that Mr. James B. Wigdale, retired chairman and chief executive officer, elected to enter a prearranged 10b(5)-1 plan to sell a portion of his holdings in Marshall & Ilsley Corporation. The objective of this plan is to facilitate the orderly sale of common stock for diversification and tax-planning purposes.
Under terms of the plan, which comply with the Securities and Exchange Commission Rule 10b(5)-1, Mr. Wigdale will sell up to 186,000 shares of M&I stock over a six-month time span, beginning in June 2006 and ending in November 2006. In total, these shares represent 10 percent of Mr. Wigdale's holdings, including stock options.
Rule 10b(5)-1 allows for the acceptance of written, prearranged trading plans by insiders at times when they do not possess material, non-public information. These plans grant insiders the ability to diversify their investment portfolios and spread stock trades over an extended period of time to reduce potential market impact. Once a plan is established, the insider retains no discretion over sales under the plan. The trades remain pre-planned and can be executed through a broker without regard to any subsequent material non-public information that the insider may acquire.
Mr. Wigdale's transactions under his Rule 10b(5)-1 plan will be publicly disclosed on Form 4 filed with the Securities and Exchange Commission.
Marshall & Ilsley Corporation is a diversified financial services corporation headquartered in Milwaukee, Wis., with $52 billion in assets. Founded in 1847, M&I Marshall & Ilsley Bank is the largest Wisconsin-based bank. M&I Bank has 196 offices throughout the state, in addition to 42 locations throughout Arizona; 15 offices on Florida's west coast; 11 offices in Kansas; six offices in Missouri; three offices in Oklahoma; 14 offices in metropolitan Minneapolis/St. Paul, Minn.; and locations in Duluth, Minn.; and Las Vegas, Nev. M&I's Southwest Bank affiliate has eight offices in the St. Louis area and one office in Belleville, Ill. M&I's Missouri State Bank affiliate has seven offices in the St. Louis area. Metavante Corporation, Marshall & Ilsley Corporation's wholly owned technology subsidiary, provides virtually all of the technology an organization needs to offer financial services. M&I also provides trust and investment management, equipment leasing, mortgage banking, asset-based lending, financial planning, investments, and insurance services from offices throughout the country and on the Internet ( http://www.mibank.com/ or http://www.micorp.com/ ). M&I's customer-based approach, internal growth, and strategic acquisitions have made M&I a nationally recognized leader in the financial services industry.
