Yankee Candle CEO Adopts 10b5-1 Plan
02 August 2005 - 1:00PM
Business Wire
The Yankee Candle Company, Inc. ("Yankee" or the "Company")
(NYSE:YCC), the leading designer, manufacturer, wholesaler and
retailer of premium scented candles, today announced that Craig W.
Rydin, the Company's Chairman and Chief Executive Officer, adopted
a stock trading plan pursuant to Rule 10b5-1 under the Securities
Exchange Act of 1934, as amended (the "Plan"). The Plan is being
adopted as part of the diversification of Mr. Rydin's personal
portfolio and covers options to purchase 150,000 shares of the
Company's common stock previously granted to Mr. Rydin, which
amount constitutes approximately 23% of Mr. Rydin's total holdings
of Company common stock (including options, shares and performance
shares regardless of vesting schedules and excluding any future
grants or awards to be made to Mr. Rydin). The Plan contemplates
that these options will be exercised, and the resulting shares
sold, over approximately a one year period, with up to 12,500
shares being sold on a monthly basis in one or more transactions.
Under the terms of the Plan, Mr. Rydin shall have no discretion or
control over the timing or effectuation of the sales. About Yankee
Candle The Yankee Candle Company, Inc. is the leading designer,
manufacturer, wholesaler and retailer of premium scented candles in
the giftware industry. Yankee has a 35 year history of offering
distinctive products and marketing them as affordable luxuries and
consumable gifts. The Company sells its products through a North
American wholesale customer network of approximately 16,200 store
locations, a growing base of Company owned and operated retail
stores (359 located in 42 states as of July 2, 2005), direct mail
catalogs, its Internet website (www.yankeecandle.com),
international distributors and to a European wholesale customer
network of approximately 2,200 store locations (through its
distribution center located in Bristol, England).
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