NASHVILLE, Tenn., Feb. 2 /PRNewswire-FirstCall/ --
HCA (NYSE: HCA) today announced that Jack O. Bovender,
Jr., Chairman and Chief Executive Officer, has entered
into a written trading plan in accordance with the
guidelines set forth in Rule 10b5-1 under the Securities
Exchange Act of 1934, as amended. Rule 10b5-1 permits an
officer or director of a public company to adopt a
written trading plan at a time when the officer or
director is not in possession of material, nonpublic
information that provides for the execution of
transactions in company stock.
Mr. Bovender's 10b5-1 trading plan provides for the
exercise and sale of up to 420,660 stock options at a
designated price over the period beginning April 26,
2006 and ending March 31, 2007. The options to be
exercised under the plan are scheduled to expire on
their 10-year anniversary in 2009. Mr. Bovender has
advised the Company that he is taking this action for
estate planning purposes.
The Company also announced that Mr. Bovender and his
wife, Barbara, have personally gifted $1 million of HCA
stock held by them to the Duke University Fuqua School
of Business. The gift will be matched by Duke and will
fund scholarships for minority students in Fuqua's
Health Sector Management Program. Mr. Bovender is an
alumnus of Duke and sits on Fuqua's Board of Visitors.
After completion of Mr. Bovender's gift and assuming
consummation of all transactions contemplated by his
10b5-1 trading plan, Mr. Bovender will continue to
beneficially own approximately 2.0 million shares of HCA
common stock, including vested and unvested employee
stock options and restricted shares.
SOURCE HCA
CONTACT: Investors, Mark Kimbrough,
+1-615-344-2688, or
Media, Jeff Prescott,
+1-615-344-5708,
both of HCA