TALX CEO Signs New 10b5-1 Trading Plan
June 05 2006 - 4:47PM
Business Wire
TALX Corporation (NASDAQ: TALX) announced today that William W.
Canfield, president and chief executive officer with the company,
has established a plan to sell up to 80,000 shares of the company's
common stock he owns in accordance with Rule 10b5-1 under the
Securities Exchange Act of 1934. The 80,000 shares covered by the
plan represent 4 percent of Mr. Canfield's beneficial ownership of
TALX. The plan is effective immediately, although no trading is
permitted under the plan until June 15, 2006. Rule 10b5-1 allows
corporate executives to establish pre-arranged plans to purchase or
sell a specified number of shares of company stock in accordance
with a plan schedule. Once a plan is established, the executive
does not retain or exercise any discretion over purchases or sales
of stock under the plan and the pre-planned trades can be executed
at later dates as set forth in the plan, without regard to any
subsequent material non-public information that the executive might
receive. Plans may be entered into only when the executive is not
in possession of material non-public information. Under this plan,
Mr. Canfield has directed a broker unaffiliated with the company to
sell, subject to certain conditions and specified limitations, up
to 80,000 shares of TALX common stock held by him over the period
that will commence June 15, 2006 and will end no later than June
15, 2007, with a maximum of 10,000 shares to be sold in any
calendar week. Under the plan, Mr. Canfield will have no control
over the timing of the sales of his TALX common stock. Mr. Canfield
has informed the company that the transactions under this plan will
be disclosed publicly through Form 144 and Form 4 filings with the
Securities and Exchange Commission. About TALX TALX Corporation,
based in St. Louis, Missouri, is a leading provider of human
resource and payroll-related services and holds a leadership
position in automated employment and income verification as well as
unemployment tax management. TALX provides over 9,000 clients,
including three-fourths of Fortune 500 companies, with Web-based
services focused in three employment-related areas: hiring, pay
reporting, and compliance. Hiring services include assessments and
talent management, paperless new hires, and tax credits and
incentives. Pay reporting services include electronic time
tracking, paperless pay, and W-2 management. Compliance services
include employment and income verifications through The Work
Number, unemployment tax management, and I-9 management. The
company's common stock trades in the Nasdaq National Market under
the symbol TALX. For more information about TALX Corporation, call
314-214-7000 or access the company's Web site at www.talx.com.
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