The purpose of this program is to discuss governance and design considerations when drafting or implementing 10b5-1 trading plans. To that end, this program will cover: (i) SEC thoughts and action items, (ii) “best practices” in relation to an issuer’s pre-clearance procedures, (iii) interplay between 10b5-1 trading plans and an issuer’s insider trading policies, (iv) unique usages, and (v) background on the relevant law.