ACL Execs Satisfy Tax Withholding Obligations
American Commercial Lines Inc. (ACL) announced that shares of common stock granted to certain executives that vested on January 18, 2006 were withheld by the company to satisfy tax withholding obligations of these executives of the company. The withholding of shares is permitted in accordance with the terms of the American Commercial Lines Inc. Equity Award Plan for Employees, Officers and Directors and the American Commercial Lines Inc. 2005 Stock Incentive Plan which allow participants to satisfy their tax withholding obligations with respect to awards granted under those plans. The number of shares withheld by each executive is as follows: Mark R. Holden (President and Chief Executive Officer) – 29,149 shares withheld and W. Norbert Whitlock (Chief Operating Officer) – 13,010 shares withheld. The Company will also withhold shares for each of Christopher A. Black (Senior Vice President and Chief Financial Officer), Nick Fletcher (Senior Vice President, Human Resources) Lisa L. Fleming (Senior Vice President, Law & Administration), Jerry Linzey (Senior Vice President Manufacturing) and Richard Mitchell (Senior Vice President Corporate Strategy) when awards granted to such officers vest over the year, and in share amounts of approximately 27,500 total shares which amount will be dependent upon the actual share price at the time each executive’s restricted stock award vests. The shares withheld by the Company will be cancelled and held as treasury shares.