Marshall & Ilsley's Retired Chairman and CEO to Initiate Planned Trading Plan
27 May 2006 - 8:04AM
PR Newswire (US)
MILWAUKEE, May 26 /PRNewswire-FirstCall/ -- Marshall & Ilsley
Corporation (NYSE:MI), a diversified financial services company,
today announced that Mr. James B. Wigdale, retired chairman and
chief executive officer, elected to enter a prearranged 10b(5)-1
plan to sell a portion of his holdings in Marshall & Ilsley
Corporation. The objective of this plan is to facilitate the
orderly sale of common stock for diversification and tax-planning
purposes. Under terms of the plan, which comply with the Securities
and Exchange Commission Rule 10b(5)-1, Mr. Wigdale will sell up to
186,000 shares of M&I stock over a six-month time span,
beginning in June 2006 and ending in November 2006. In total, these
shares represent 10 percent of Mr. Wigdale's holdings, including
stock options. Rule 10b(5)-1 allows for the acceptance of written,
prearranged trading plans by insiders at times when they do not
possess material, non-public information. These plans grant
insiders the ability to diversify their investment portfolios and
spread stock trades over an extended period of time to reduce
potential market impact. Once a plan is established, the insider
retains no discretion over sales under the plan. The trades remain
pre-planned and can be executed through a broker without regard to
any subsequent material non-public information that the insider may
acquire. Mr. Wigdale's transactions under his Rule 10b(5)-1 plan
will be publicly disclosed on Form 4 filed with the Securities and
Exchange Commission. Marshall & Ilsley Corporation (NYSE:MI) is
a diversified financial services corporation headquartered in
Milwaukee, Wis., with $52 billion in assets. Founded in 1847,
M&I Marshall & Ilsley Bank is the largest Wisconsin-based
bank. M&I Bank has 196 offices throughout the state, in
addition to 42 locations throughout Arizona; 15 offices on
Florida's west coast; 11 offices in Kansas; six offices in
Missouri; three offices in Oklahoma; 14 offices in metropolitan
Minneapolis/St. Paul, Minn.; and locations in Duluth, Minn.; and
Las Vegas, Nev. M&I's Southwest Bank affiliate has eight
offices in the St. Louis area and one office in Belleville, Ill.
M&I's Missouri State Bank affiliate has seven offices in the
St. Louis area. Metavante Corporation, Marshall & Ilsley
Corporation's wholly owned technology subsidiary, provides
virtually all of the technology an organization needs to offer
financial services. M&I also provides trust and investment
management, equipment leasing, mortgage banking, asset-based
lending, financial planning, investments, and insurance services
from offices throughout the country and on the Internet (
http://www.mibank.com/ or http://www.micorp.com/ ). M&I's
customer-based approach, internal growth, and strategic
acquisitions have made M&I a nationally recognized leader in
the financial services industry. DATASOURCE: Marshall & Ilsley
Corporation CONTACT: Patty Cadorin, Corporate Communications
Director of Marshall & Ilsley Corporation, +1-414-765-7814 Web
site: http://www.micorp.com/ http://www.mibank.com/
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