Reading International, Inc., announced today that the James J. Cotter Living Trust (the “Living Trust”) has entered into a 10b5-1 trading plan (the “Trading Plan”) with the Company pertaining to the sale by the Living Trust of up to 276,000 shares of Class A Non-Voting Common Stock over a period from January 25, 2021 through and including June 4, 2021, or such earlier date as all such shares are sold, unless the Trading Plan is terminated earlier pursuant to its terms. The Company is advised that, like the 10b5-1 trading plan executed in 2020 by the Co-Trustees of the Living Trust, the purpose of these anticipated sales pursuant to the Trading Plan is to provide liquidity to pay certain estate taxes of the Estate of James J. Cotter (the “Estate”) pursuant to the terms of the Estate’s agreement with the Internal Revenue Service, as well as to pay other expenses of the Living Trust. The Trading Plan requires, among other things, that such sales comply with the requirements of Rule 144 of the Securities Act. Ellen Cotter, the President and Chief Executive Officer of the Company and Margaret Cotter, the Chair and Executive Vice President – Real Estate Management and Development NYC of the Company are the Co-Trustees of the Living Trust.
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