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CMCO > SEC Filings for CMCO > Form 8-K on 18-Aug-2008All Recent SEC Filings

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Form 8-K for COLUMBUS MCKINNON CORP


18-Aug-2008

Other Events


Item 8.01 OTHER EVENTS

On August 14, 2008, certain executive officers of Columbus McKinnon Corporation (the "Company") adopted pre-arranged trading plans (each, a "Plan") designed to comply with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and the Company's policies regarding stock transactions. Under Rule 10b5-1, directors, officers and other persons who are not in possession of material non-public information may adopt a pre-arranged plan or contract for the sale of Company securities under specified conditions and at specified times. As sales are executed in the future under these Plans, they will be reported in accordance with federal securities laws. Using these Plans, insiders can gradually diversify their investment portfolios, spread stock trades out over an extended period of time to reduce market impact and avoid concerns about transactions occurring at a time when they might possess inside information.

The executives have informed the Company that these stock sales enable them to exercise vested options which expire in April 2009 and pay the resulting income taxes.

The Plan adopted by Timothy T. Tevens, the Company's Chief Executive Officer and President, provides for the sale of up to a total of 44,292 shares over a period beginning August 15, 2008 and ending on March 31, 2009. These shares will be acquired through the exercise of stock options. Shares will be sold under the Plan on the open market at prevailing market prices, subject to minimum price thresholds.

The Plan adopted by Karen L. Howard, the Company's Vice President - Finance, Treasurer and Chief Financial Officer, provides for the sale of up to a total of 26,292 shares over a period beginning August 15, 2008 and ending on March 31, 2009. These shares will be acquired through the exercise of stock options. Shares will be sold under the Plan on the open market at prevailing market prices, subject to minimum price thresholds.

The Company does not undertake to report Rule 10b5-1 plans that may be adopted by any officers or directors of the Company in the future, or to report any modifications or termination of any publicly announced plan or to report any plan adopted by an employee who is not an executive officer, except to the extent required by law.


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