AUSTIN, Texas--January 11, 2006—Perficient, Inc. (NASDAQ: PRFT), a leading information technology consulting firm in the central United States, announced today that a long-term trading plan under SEC Rule 10b5-1 has been established by a senior officer, principally to manage diversification over time.
Jack McDonald, the Company's Chairman and Chief Executive Officer, intends to sell up to 262,000 shares of Perficient common stock over the next year under his 10b5-1 plan, subject to certain price and volume limitations. This represents approximately 10.75% of Mr. McDonald’s total shares and options and is designed to enable Mr. McDonald to diversify a portion of his Perficient equity interests in an orderly manner, to fund the purchase of additional Perficient common stock through the exercise of incentive stock options and to fund charitable activities. Upon completion of his plan, if all 262,000 shares subject to the plan are sold, Mr. McDonald will retain a substantial ongoing interest in Perficient of 2.17 million shares and options.
Mr. McDonald’s 10b5-1 trading plan became effective January 9, 2006 and will end at the earlier of the date on which all 262,000 shares subject to the plan have been sold or December 31, 2006.
McDonald became CEO of Perficient in 1999 when it was a start-up with fewer than 10 employees and less than $1 million in annual revenues. Today, Perficient employs more than 575 people and has annual revenues of more than $110 million.
“I remain highly confident about Perficient's future and committed to its continued success,” said Mr. McDonald. “Routine and modest divestitures of a small percentage of my total holdings are nothing more than appropriate long-term financial planning steps. Importantly, a large portion of my net worth will continue to consist of my Perficient holdings, even if all the shares under the plan are sold.”
Perficient is a leading information technology consulting firm serving Global 2000 and midsize companies in the central United States. Perficient helps clients gain competitive advantage by using Internet-based technologies to make their businesses more responsive to market opportunities and threats, strengthen relationships with customers, suppliers and partners, improve productivity and reduce information technology costs. Our solutions enable our clients to operate a real-time enterprise that dynamically adapts business processes and the systems that support them to the changing demands of an increasingly global, Internet-driven and competitive marketplace. Perficient is an award-winning "Premier Level" IBM business partner, a TeamTIBCO partner and a Microsoft Gold Certified Partner. For more information about Perficient, which employs more than 575 professionals in the central United States and Canada, please visit www.perficient.com. IBM is a trademark of International Business Machines Corporation in the United States, other countries, or both. IBM and WebSphere are trademarks of International Business Machines Corporation in the United States, other countries, or both.
Safe Harbor Statement
This news release contains statements that are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions and estimates that management believes are reasonable based on currently available information; however, forward-looking statements are subject to risks and uncertainties, including, but not limited to, demand for and market acceptance of services like those provided by the company, competition for skilled professionals and other key employees, the ability to manage the company's growth, the impact of competitors on the company’s market position, the company’s ability to respond to rapidly changing technology, evolving industry standards and customer needs, fluctuations in operating results, the company's ability to accurately set fees for and timely complete its current and future client projects, and other risks detailed from time to time in the company's filings with Securities and Exchange Commission, including the most recent Form 10-KSB and Form 10-Q. ###