PALO ALTO, Calif., Aug. 11 /PRNewswire-FirstCall/ -- TIBCO Software Inc. , a leading business integration and process management software company that enables real-time business, today announced that Vivek Ranadive, chairman and chief executive officer, plans to exercise employee stock options to purchase 5,290,000 shares of TIBCO common stock. The options that will be exercised were granted in 1996 and are scheduled to expire on their 10-year anniversary in December 2006.
In connection with exercising these options, Mr. Ranadive intends to sell approximately 2,500,000 of the shares acquired to pay the option exercise price and satisfy income tax withholding requirements. Mr. Ranadivé currently intends to hold the remaining shares.
Any sales will be reported by Mr. Ranadive on Form 144 and Form 4 filings with the Securities and Exchange Commission.
About TIBCO
TIBCO Software Inc. is a leading business integration and process management software company that enables real-time business. Real-time business is about giving organizations the ability to sense and respond to changes and opportunities as they arise. TIBCO has delivered the value of real-time business, what TIBCO calls The Power of Now(R), to over 2,500 customers around the world and in a wide variety of industries. To learn about TIBCO's solutions for service-oriented architecture (SOA), business process management (BPM) and business optimization, contact TIBCO at +1-650-846-1000 or on the Web at http://www.tibco.com/. TIBCO is headquartered in Palo Alto, California.
NOTE: TIBCO, the TIBCO logo, The Power of Now and TIBCO Software are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.
