FRANKLIN, Tenn., March 1, 2017 /PRNewswire/ -- Community Healthcare Trust Incorporated (the "Company") (NYSE: CHCT) today announced that its Chairman, Chief Executive Officer and President Timothy Wallace entered into a 10b5-1 purchase plan (the "Plan") to acquire shares of the Company's common stock consistent with certain timing, volume and price limitations. The Plan replaces Mr. Wallace's 10b5-1 trading plan dated February 29, 2016, which expired on December 31, 2016.
The Plan was entered into on February 27, 2017 and will become effective April 3, 2017. Under the Plan, Mr. Wallace will be able to purchase up to the lesser of $2,000,000 or 100,000 shares of the Company's common stock, subject to timing, price and trading limitations.
Rule 10b5-1 of the Securities Exchange Act of 1934, as amended, permits corporate officers, directors and others to adopt written, pre-arranged stock trading plans when they are not in possession of material, non-public information. Using these plans, insiders may gradually acquire stock over a period of time regardless of any material, non-public information they may receive after adopting a plan. In accordance with Rule 10b5-1, Mr. Wallace will have no discretion over purchases under the Plan. Because the purchases under the Plan are subject to certain market pricing parameters and trading limitations, there is no guarantee as to the exact number of shares that will be purchased under the Plan, or that there will be any purchases pursuant to the Plan. Details of the transactions will be publicly available through Form 4 filings with the Securities and Exchange Commission.
About Community Healthcare Trust Incorporated
Community Healthcare Trust Incorporated is a real estate investment trust that focuses on owning income-producing real estate properties associated primarily with the delivery of outpatient healthcare services in non-urban markets throughout the United States.
This press release contains statements that are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are generally identifiable by use of forward-looking terminology such as "believes", "expects", "may", "will", "should", "seeks", "approximately", "intends", "plans", "estimates", "anticipates" or other similar words or expressions, including the negative thereof. Forward-looking statements are based on certain assumptions and can include future expectations, future plans and strategies, financial and operating projections or other forward-looking information. Such forward-looking statements reflect management's current beliefs and are based on information currently available to management. Because forward-looking statements relate to future events, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. Thus, the Company's actual results and financial condition may differ materially from those indicated in such forward-looking statements. Some factors that might cause such a difference include the following: general volatility of the capital markets and the market price of the Company's common stock, changes in the Company's business strategy, availability, terms and deployment of capital, the Company's ability to refinance existing indebtedness at or prior to maturity on favorable terms, or at all, changes in the real estate industry in general, interest rates or the general economy, adverse developments related to the healthcare industry, the degree and nature of the Company's competition, the ability to consummate acquisitions under contract and the other factors described in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2016, and the Company's other filings with the Securities and Exchange Commission from time to time. Readers are therefore cautioned not to place undue reliance on the forward-looking statements contained herein which speak only as of the date hereof. The Company intends these forward-looking statements to speak only as of the time of this release and the Company undertakes no obligation to update forward-looking statements, whether as a result of new information, future developments, or otherwise, except as may be required by law.
CONTACT W. Page Barnes, 615-771-3052
SOURCE Community Healthcare Trust Incorporated