Ofer Eitan launches automatic share sales plan for Zoomd

On January 14, 2025, in Toronto, Canada, Zoomd Technologies Ltd. announced that Ofer Eitan, a director and former CEO of the company, introduced an Automatic Securities Disposition Plan (ASDP). This plan complies with Canadian securities regulations and the company's insider trading policy. The ASDP aims to facilitate the sale of up to two million shares without Mr. Eitan's direct involvement in the transaction process. The trades will be executed based on pre-arranged instructions to an independent broker, maintaining a 10% daily volume limit unless Mr. Eitan possesses material undisclosed information. The ASDP is designed to ensure an orderly disposition of shares, set to continue until December 31, 2025, with the first trades expected to begin on May 5, 2025. This move allows Mr. Eitan to liquidate his holdings gradually while adhering to the regulatory framework for insider trading. The terms of the ASDP prevent Mr. Eitan from amending or terminating the plan once it is enacted, indicating a commitment to transparency and compliance in share disposal activities. Zoomd Technologies operates a marketing tech platform that enhances user acquisition by integrating multiple media sources, thus simplifying campaign management for advertisers. The effectiveness of the ASDP may have implications for the company’s stock price and market perception, as it reflects Mr. Eitan's strategic decision-making regarding his personal investment in the company. This announcement, highlighted through a press release on January 14, 2025, aligns with the practices recommended by the Canadian Securities Administrators. It provides insights into corporate governance and the necessary precautions required from insiders, ensuring that all trading activities remain above board. As the first transactions under the ASDP will commence on May 5, it is likely to attract attention from investors and analysts monitoring the company's performance and Eitan's ongoing role within Zoomd.