BLOOMFIELD HILLS, Mich., Feb. 11 /PRNewswire-FirstCall/ -- William J. Pulte, founder and Chairman of Pulte Homes, Inc., , today filed a Form 144 with the Securities and Exchange Commission covering 3.8 million shares of company stock, or 9% of the shares controlled by Mr. Pulte, intending to sell up to that amount of shares through a prepaid variable forward contract. The prepaid variable forward contract allows Mr. Pulte to receive cash now while also giving Mr. Pulte the right to retain ownership of these shares at the end of the one-year term of the forward by settling the forward with cash. The transaction also allows Mr. Pulte to retain an interest in a possible increase in the shares' value over the next year and provides protection against a potential decline in value of Pulte shares over that same period.
The filing is in accordance with the company's insider trading policy. Mr. Pulte has taken this action to provide liquidity for certain non-company related transactions involving friends and family members.
"I am extremely confident in the future of Pulte Homes and chose this form of transaction to allow me to retain participation in any future appreciation of the shares," Mr. Pulte said. "I will continue in my capacity as Pulte's Chairman of the Board and will also retain all my voting rights and continue to receive ordinary dividends on these shares."
About Pulte Homes
Pulte Homes, Inc., , based in Bloomfield Hills, Mich., is one of America's largest homebuilding companies and operates in 51 markets and 26 states. During its 57-year history, the company has delivered 500,000 new homes. Under its Del Webb brand, Pulte is the nation's largest builder of active adult communities for people age 55 and older. Pulte Mortgage LLC is a nationwide lender offering Pulte customers a wide variety of loan products and superior service.
Website: http://www.pulte.com/
Company Contacts
Investors: Calvin Boyd
(248) 433-4527
email:
