Inc.announced that its Chairman and co-founder Richard Cabela has adopted a
pre-arranged stock trading plan to sell a small portion of the 9.6 million
shares of Cabelas stock that he beneficially owns. Under the stock trading
plan, commencing on July 15, a Cabela family trust will make 12 consecutive
monthly sales of 1,000 shares as part of the chairman's personal financial and
estate planning.
The company
also announced that Richard Cabela currently intends to cause certain Cabela
family trusts to make 12 consecutive monthly distributions of 9,000 shares of
Cabelas common stock to his children as part of his personal estate planning.
These monthly estate planning distributions are expected to begin on July 15.
The stock
trading plan sales and anticipated estate planning distributions will reduce Richard
Cabelas beneficial ownership of Cabelas common stock by 120,000 shares, which
amounts to 1.25% of the approximately 9.6 million shares of Cabelas common
stock that Cabela beneficially owns as of June 9.
Richard
Cabela has been chairman of the board since the company's incorporation in
1965. Since the incorporation, Cabela has been employed by the company in
various capacities, and was president until July 2003. Cabela has been a vice chairman
since the creation of that executive position in 1996.
