ATLANTA, Dec. 24 /PRNewswire-FirstCall/ -- IntercontinentalExchange , a leading global exchange operator and over-the-counter (OTC) energy marketplace, announced today that Chairman and Chief Executive Officer Jeffrey C. Sprecher has adopted a pre-arranged stock trading plan to commence in January 2008. The plan was established in November 2007, pursuant to guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934.
Under the terms of the trading plan for 2008, Sprecher will sell only shares of stock he received as compensation in connection with his employment through the vesting of restricted stock and the exercise of stock options. This pre-arranged plan will enable Sprecher to diversify his personal investment portfolio, implement certain tax planning measures, and pay income taxes incurred in connection with the awards. The sales under this plan represent less than 10% of his combined holdings of stock, restricted stock and stock options. The planned sales do not include the disposition of equity owned as the original shareholder of ICE. The plan contemplates stock sales over an 11-month period. The plan was adopted during an authorized trading period when Sprecher was not in possession of material, non-public information. Under Rule 10b5-1 trading plans, trades may be executed at times when the director or officer is in possession of material non-public information, based on the application of a formula or binding instructions determined at the time the trading plan was arranged.
About IntercontinentalExchange
IntercontinentalExchange(R) operates global commodity and financial products marketplaces, including the world's leading electronic energy markets and soft commodity exchange. ICE's diverse futures and over- the-counter (OTC) markets offer contracts based on crude oil and refined products, natural gas, power and emissions, as well as agricultural commodities including canola, cocoa, coffee, cotton, ethanol, orange juice, wood pulp and sugar, in addition to foreign currency and equity index futures and options. ICE(R) conducts its energy futures markets through ICE Futures Europe(TM), its London-based futures exchange, which offers the world's leading oil benchmarks and trades nearly half of the world's global crude futures in its markets. ICE conducts its soft commodity, foreign exchange and equity index markets through its U.S. futures exchange, ICE Futures U.S.(TM), which provides global futures and options markets, as well as clearing services through ICE Clear U.S.(TM) In August 2007, ICE acquired the Winnipeg Commodity Exchange Inc., the leading agricultural futures exchange in Canada. ICE's state-of-the-art electronic trading platform brings market access and transparency to participants in more than 50 countries. ICE was added to the Russell 1000(R) Index in June 2006 and the S&P 500 Index in September 2007. Headquartered in Atlanta, ICE also has offices in Calgary, Chicago, Dublin, Houston, London, New York, Singapore and Winnipeg. For more information, please visit http://www.theice.com/.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding IntercontinentalExchange's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2006, and the Quarterly Reports on Form 10-Q for the quarters ended March 31, June 30 and September 30, 2007, each as filed with the SEC on February 26, May 4, July 27 and October 26, 2007, respectively.
