ZixIt Announces CEO's Exercise and Sale of 6% of His Employment-Related Option Shares
DALLAS, March 2 /PRNewswire/ -- ZixIt Corporation (Nasdaq: ZIXI) announced
today that David P. Cook, the company's chairman and chief executive officer,
exercised and publicly sold 251,700, or 6%, of the 4,254,627 option shares
granted to him in lieu of salary in connection with his April 1998 employment
In addition, Mr. Cook reallocated 254,627 of his 4,254,627 option shares
to key personnel of the company, primarily technical employees, to provide
them with additional long-term incentive. After the sale and reallocations,
Mr. Cook's beneficial holdings in the company total 3,872,300 shares,
consisting of the remaining 3,748,300 employment-related option shares,
30,000 director option shares, and 94,000 shares purchased on the open market.
Mr. Cook stated, "This exercise and sale of a small portion of my
employment options was for estate planning purposes. I do not intend to make
any further option exercises and open market sales this year."
ZixIt Corporation is the developer and owner of the ZixIt(TM) Digital
Signature and encryption technology. Products currently under development
include: ZixMail(TM), a secure Internet-messaging system; and ZixCharge(TM),
an Internet transaction authorization system. For further investor
information about ZixIt, visit the company's Web site at www.zixit.com or
contact investor relations at 972-702-7057.
SOURCE ZixIt Corporation
CONTACT: investors, Beverly V. Fuortes of ZixIt Corporation,
972-702-7057, or email, firstname.lastname@example.org/