WESTFORD, Mass., Dec. 2 /PRNewswire-FirstCall/ -- NetScout Systems, Inc.
(Nasdaq: NTCT), a leading provider of network performance management
solutions, today announced the adoption of a company stock trading program in
accordance with Rule 10b5-1(c) under the Securities Exchange Act of 1934, as
amended, and NetScout's policies regarding stock transactions by executive
officers. The program provides for the establishment of "blind trusts" and
Rule 10b5-1 sales plans to permit executive officers to satisfy liquidity and
diversification objectives and to increase the amount of company stock
available to investors.
Rule 10b5-1 sales plans and blind trusts enable executive officers, at a
time when they are not aware of material non-public information, to establish
means for future stock sales. Under blind trusts, executives may transfer
shares into a trust whose trustee has exclusive investment control over the
shares, without any subsequent influence by the executive officer. Under
10b5-1 sales plans, executives may enter into predetermined written plans
directing future sales of stock, which are executed by a broker without
further instructions from the officer. Blind trusts and 10b5-1 sales plans
are not limited by any inside information that the officer may acquire
subsequent to establishment. Under company policy, NetScout's Chief Financial
Officer must approve plans prior to implementation.
The company's co-founders and all other NetScout executive officers have
agreed to sell company stock only under written 10b5-1 sales plans or blind
trusts. Specifically, each co-founder has initially transferred shares
amounting to less than 10% of his beneficially owned NetScout stock into a
blind trust, which will be managed by an independent third-party trustee not
affiliated with them or with NetScout. The company undertakes no obligation
to provide information with respect to the establishment or disestablishment
of blind trusts or 10b5-1 sales plans, or transfers of NetScout stock to such
trusts or plans, in the future by executive officers, directors or their
family members or with respect to sales under any plans.
About NetScout Systems, Inc.
NetScout Systems, Inc. (Nasdaq: NTCT) is a market leader and pioneer of
integrated network performance management products that unify performance
across the enterprise. NetScout's nGenius(R) Performance Management System is
helping more than 3,000 leading companies increase their return on
infrastructure investments by optimizing the performance of networks and
applications according to business priorities. NetScout is headquartered in
Westford, Massachusetts, and has offices worldwide. Further information is
available at http://www.netscout.com.
NetScout and the NetScout logo, and nGenius are registered trademarks of
NetScout Systems, Inc.
Contact:
Catherine Taylor
Director of Investor Relations
NetScout Systems, Inc.
978-614-4286
IR@netscout.com
SOURCE NetScout Systems, Inc.
-0- 12/02/2004
/CONTACT: Catherine Taylor, Director of Investor Relations of NetScout
Systems, Inc., +1-978-614-4286, IR@netscout.com/
/Web site: http://www.netscout.com/
(NTCT)
CO: NetScout Systems, Inc.
ST: Massachusetts
IN: CPR STW NET
SU: FNC
DL-CP
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9769 12/02/2004 16:30 EST http://www.prnewswire.com