How rare are 10b5-1 trading plans for corporate executives? Not at all. Indeed, there are thousands – maybe hundreds of thousands – of such plans in existence. But what about a 10b5-1 trading plan to buy, not sell, a company’s stock? Rare enough to get its own article in the Mercury News.
According to the Mercury News, West Marine (WMAR) founder and chairman, Randy Repass, set up what he called a “Rule 10b5-1 Buying Plan” earlier this month because he thinks his company’s stock is “undervalued and represents an attractive investment opportunity.” West Marine shares are down 45 percent this year, recently closing at $4.95.
