Kaydon Corporation Announces 10b5-1 Plan

Resource from: CBCC Likes:2942

Jul 09,2008

Kaydon Corporation (NYSE:KDN) today announced that it has adopted a stock repurchase plan under Rule 10b5-1 of the Securities Exchange Act of 1934 (“the “Company 10b5-1 Plan”), to facilitate the repurchase of its common stock under its outstanding stock repurchase program authorized by the Kaydon Board of Directors in 2005 (the “Share Repurchase Plan”). The current repurchase program was originally for five million shares, with approximately 4.0 million shares that may yet be purchased. The Company 10b5-1 Plan does not require that any shares be purchased, and there can be no assurance that any shares will be purchased. The Share Repurchase Plan will be in effect through July 31, 2008, subject to certain price, volume and timing constraints specified in the Company 10b5-1 Plan. A plan under Rule 10b5-1 allows the Company to repurchase shares at times when it would ordinarily not be in the market because of self-imposed trading blackout periods. A broker selected by Kaydon will have the authority under the terms and limitations specified in the Company 10b5-1 Plan to repurchase shares on the Company’s behalf in accordance with the terms of the Plan. Kaydon Corporation is a leading designer and manufacturer of custom-engineered, performance-critical products, supplying a broad and diverse group of industrial, aerospace, medical and electronic equipment, alternative-energy, and aftermarket customers.

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