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Category:
Press » Real Estate
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Pulte Homes Chairman Files Form 144
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Popularity: 
Views: 2380
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2009-02-10 03:54:43
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Pulte Homes, Inc.
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William J. Pulte, founder and Chairman of Pulte Homes, Inc. (NYSE: PHM), today filed a Form 144 with the Securities and Exchange Commission covering 4.75 million shares of company stock, or approximately 11% of the shares controlled by Mr. Pulte, intending to sell up to that amount of shares through a prepaid variable forward contract. The proceeds from this prepaid variable forward contract will be used to terminate a separate prepaid variable forward contract entered into by Mr. Pulte in February 2008 prior to its scheduled expiration and will provide additional liquidity for Mr. Pulte. The new prepaid variable forward contract combines 3.35 million shares pledged in the February 2008 contract with 1.4 million new shares.
The prepaid variable forward contract allows Mr. Pulte to receive cash now while also giving him the right to retain ownership of these shares at the end of the 16-month term of the forward by settling the forward with cash. The transaction also allows Mr. Pulte to retain an interest in a possible increase in the shares' value over that 16-month period and provides protection against a potential decline in value of Pulte shares during that same timeframe.
The filing is in accordance with the company's insider trading policy.
About Pulte Homes
Pulte Homes, Inc., (NYSE: PHM), based in Bloomfield Hills, Mich., is one of America's largest home building companies with operations in 49 markets and 25 states. During its 59-year history, the company has delivered more than 500,000 new homes. In 2008, Pulte Homes operations ranked highest in customer satisfaction in 11 U.S. markets, the most of any homebuilder, in the annual J.D. Power and Associates(R) New-Home Builder Customer Satisfaction Study(sm) . Under its Del Webb brand, Pulte is the nation's largest builder of active adult communities for people age 55 and older. Its DiVosta Homes brand is renowned in Florida for its distinctive master-planned communities. Pulte Mortgage LLC is a nationwide lender offering Pulte customers a wide variety of loan products and superior service.
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Pulte Homes
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Home Builders
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Pulte Mortgage
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New Home Builder
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New Home Construction
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Buying A New Home
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New Homes And Communities
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Financing Your Home
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New Homes
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| URL: |
http://www.pulte.com
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