James J. Cotter Living Trust Enters 10b5-1 Trading Plan in 2022

Rhea-AI Summary

Reading International, Inc. announced that the James J. Cotter Living Trust has established a Rule 10b5-1 trading plan to sell up to 253,000 shares of Class A Non-Voting Common Stock from January 31, 2022, to June 10, 2022. This plan is consistent with previous arrangements and aims to provide liquidity for estate tax payments. Ellen Cotter and Margaret Cotter are the Co-Trustees of the Living Trust. Reading International operates cinemas and real estate across the U.S., Australia, and New Zealand.

Positive

• Establishment of a trading plan indicates structured management of stock sales.
• The sale aims to provide liquidity for estate taxes, suggesting financial planning for obligations.

Negative

• None.

CULVER CITY, Calif.--(BUSINESS WIRE)-- Reading International, Inc., announced today that the James J. Cotter Living Trust (the “Living Trust”), consistent with its practice over the last few years, has entered into another Rule 10b5-1 trading plan (the “Trading Plan”), substantially similar to its earlier plans, pertaining to the sale by the Living Trust of up to 253,000 shares of Class A Non-Voting Common Stock over a period from January 31, 2022 to June 10, 2022, unless the Trading Plan is terminated earlier pursuant to its terms.

Plans established pursuant to SEC Rule 10b5-1 permit insiders of a corporation to sell shares over a predetermined period of time, subject to predetermined volume and price parameters.

As with earlier plans, the Company is advised that the purpose of this Trading Plan is to provide liquidity for the Living Trust, principally to pay estate taxes of the Estate of James J. Cotter. Ellen Cotter, the President and Chief Executive Officer of the Company, and Margaret Cotter, the Chair and Executive Vice President – Real Estate of the Company, are the Co-Trustees of the Living Trust.

About Reading International, Inc.

Reading International Inc. (NASDAQ: RDI), an internationally diversified cinema and real estate company, is a leading entertainment and real estate company, engaged in the development, ownership and operation of cinemas and retail and commercial real estate in the United States, Australia, and New Zealand. The family of Reading brands includes cinema brands: Reading Cinemas, Angelika Film Centers, Consolidated Theatres, City Cinemas, and the State Cinema; live theatres operated by Liberty Theatres in the United States; and signature property developments, including Newmarket Village, Auburn Redyard, Cannon Park, and The Belmont Common in Australia, Courtenay Central in New Zealand, and 44 Union Square in New York City.

Additional information about Reading can be obtained from the Company's website: http://www.readingrdi.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220121005472/en/

Reading International, Inc.

Gilbert Avanes, Executive Vice President & Chief Financial Officer

Andrzej Matyczynski, Executive Vice President for Global Operations

(213) 235-2240

Source: Reading International, Inc.

FAQ

What is the purpose of Reading International's new trading plan announced in January 2022?

The purpose is to allow the James J. Cotter Living Trust to sell up to 253,000 shares to provide liquidity for estate taxes.

What dates are involved in the trading plan for Reading International's shares?

The trading plan is scheduled to run from January 31, 2022, to June 10, 2022.

Who are the Co-Trustees of the James J. Cotter Living Trust?

Ellen Cotter and Margaret Cotter are the Co-Trustees of the Living Trust.

How many shares will be sold under the new trading plan of Reading International?

Up to 253,000 shares of Class A Non-Voting Common Stock will be sold under the trading plan.

Is the trading plan for Reading International's stock consistent with previous plans?

Yes, the new trading plan is substantially similar to earlier trading plans established by the Living Trust.