CHANDLER, Ariz., Dec. 17 -- Amkor Technology, Inc. (Nasdaq: AMKR) said that it has established a plan under Rule 10b5-1 of the Securities and Exchange Commission to provide for the Company's Executive Officers and Directors to engage in a pre-determined exercise of a portion of their exercisable stock options to purchase common stock, with concurrent sale of the shares, subject to certain price restrictions and other contingencies. Amkor also said that its Chairman and Chief Executive Officer, James Kim, has elected not to participate in this plan at this time.
The Officers and Directors currently participating in the plan may exercise an aggregate of 1,200,000 options to purchase common stock over a one-year period from the time the plan was established on November 19, 2003. This aggregate number of options represents approximately seven tenths of one percent (0.007) of Amkor's currently outstanding common stock.
Rule 10b5-1 permits implementation of a written plan of selling company stock at times when insiders are not in possession of material non-public information. It allows them to sell shares on a regular basis, regardless of any subsequent material non-public information they receive and irrespective of the price of the stock at the time of sale. The plan allows sales to occur in a systematic manner with the goal of minimizing market impact by spreading such sales over a more extended period of time than would be available using the company's traditional "window period". These sales will enable the Executive Officers and Directors to monetize a portion of their exercisable stock options in an orderly manner.
Amkor Technology, Inc. is a leading outsourced provider of semiconductor assembly and test services. The company offers semiconductor companies and electronics OEMs a complete set of microelectronic design and, manufacturing and support services. More information on Amkor is available from the company's SEC filings and on Amkor's web site: www.amkor.com .Contact: