MEDINA, Ohio, Sep 10, 2002 /PRNewswire-FirstCall via COMTEX/ --
Sullivan and Karman To Sell Shares As Part of Their Personal Retirement Planning RPM, Inc.
(NYSE: RPM) announced today that Thomas C. Sullivan, chairman and chief
executive officer, and James A. Karman, vice chairman, have both filed Form 144
Notices announcing their intention to sell up to 600,000 RPM common shares and
500,000 RPM common shares, respectively.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010126/RPMLOGO )
As previously indicated, Sullivan (65) and Karman (65) both intend to retire as
officers of the company at the upcoming Annual Meeting on October 11, 2002. The
sale of these shares are part of both gentleman's personal retirement planning.
With the assistance of their independent financial advisors, these proposed
transactions will enable Sullivan and Karman to both diversify their personal
holdings and raise cash for charitable donations.
After such sales, Mr. Sullivan will continue to beneficially own approximately
1.3 million shares and Mr. Karman will continue to beneficially own
approximately 550,000 shares, which, in the aggregate, represent less than 1
percent of the total number of outstanding RPM common shares. Both Sullivan and
Karman will retain common shares they received in exchange for certain of their
cash-based retirement benefits.
RPM, Inc. is a world leader in specialty coatings serving both industrial and
consumer markets. RPM's industrial products including roofing systems, sealants,
corrosion control coatings, flooring coatings and specialty chemicals. Its
consumer products are used by professionals and do-it- yourselfers for home,
automotive and boat maintenance and by hobbyists. Leading industrial brands
include Stonhard, Tremco, Carboline, Day-Glo, Euco and Dryvit. Consumer brands
include Zinsser, Rust-Oleum, DAP, Varathane, Bondo and Testor.
For more information, contact Glenn R. Hasman, vice president of finance and
communications, at 330-273-8820.
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SOURCE RPM, Inc.
CONTACT: Glenn R. Hasman, Vice President Of Finance And Communications
of RPM, Inc., +1-330-273-8820
/Company News On-Call: http://www.prnewswire.com/gh/cnoc/comp/765075.html
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