The regulators have made it clear that they are revisiting Rule 10b5-1 Executive Stock Sale Plans with a view of “tightening” them up.  While we cannot, with specificity, anticipate what the changes will be in connection with existing plans and in connection with new plans, it may be advisable to consider programs that provide for periodic sales or periodic sales with specified prior targets. Such an approach could be expected to make the plans less likely to need to be changed or attacked in the future.

Securities regulators are rethinking rules on popular plans that let corporate executives sell stock without violating insider-trading provisions.