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Trimble Amends Insider Trading Policy to Permit 10b5-1 Plans
SUNNYVALE, Calif., June 1, 2004 -- Trimble (NASDAQ: TRMB) today announced that its Board of Directors has amended its insider trading policy to permit predetermined, specific stock trading programs in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended. Rule 10b5-1 allows corporate insiders to establish prearranged written plans to buy or sell a specified number of shares of Company stock over a predetermined period of time, committing in advance the number of shares to be sold and the corresponding prices at which the sales will take place. Insiders may adopt such plans when they are not in possession of material nonpublic information. Purchases or sales pursuant to a plan may take place independently of any material nonpublic information the insider may receive following adoption of the plan. Generally, the purpose of plans adopted under the Rule is to allow corporate insiders to monetize and diversify a portion of their investment portfolio.
Trimble is a leading innovator of Global Positioning System (GPS) technology. In addition to providing advanced GPS components, Trimble augments GPS with other positioning technologies as well as wireless communications and software to create complete customer solutions. Trimble's worldwide presence and unique capabilities position the Company for growth in emerging applications including surveying, automobile navigation, machine guidance, asset tracking, wireless platforms, and telecommunications infrastructure. Founded in 1978 and headquartered in Sunnyvale, Calif., Trimble has more than 2,000 employees in more than 20 countries worldwide.
Investor Relations Contact: Investor Relations of Trimble: (408) 481-6914
Media Contact: LeaAnn McNabb of Trimble: 408-481-7808