HCA (NYSE: HCA) today announced that Jack O. Bovender, Jr., Chairman and
Chief Executive Officer, has entered into a written trading plan in
accordance with the guidelines set forth in Rule 10b5-1 under the
Securities Exchange Act of 1934, as amended. Rule 10b5-1 permits an
officer or director of a public company to adopt a written trading plan
at a time when the officer or director is not in possession of material,
nonpublic information that provides for the execution of transactions in
company stock.
Mr. Bovender's 10b5-1 trading plan provides for the exercise and sale of
up to 420,660 stock options at a designated price over the period
beginning April 26, 2006 and ending March 31, 2007. The options to be
exercised under the plan are scheduled to expire on their 10-year
anniversary in 2009. Mr. Bovender has advised the Company that he is
taking this action for estate planning purposes.
The Company also announced that Mr. Bovender and his wife, Barbara, have
personally gifted $1 million of HCA stock held by them to the Duke
University Fuqua School of Business. The gift will be matched by Duke
and will fund scholarships for minority students in Fuqua's Health
Sector Management Program. Mr. Bovender is an alumnus of Duke and sits
on Fuqua's Board of Visitors. After completion of Mr. Bovender's gift
and assuming consummation of all transactions contemplated by his 10b5-1
trading plan, Mr. Bovender will continue to beneficially own
approximately 2.0 million shares of HCA common stock, including vested
and unvested employee stock options and restricted shares.
"Safe Harbor" Statement under the Private Securities Litigation Reform
Act of 1995: Statements in this press release regarding HCA's business
which are not historical facts are "forward-looking statements" that
involve risks and uncertainties. For a discussion of such risks and
uncertainties, which could cause actual results to differ from those
contained in the forward-looking statements, see "Risk Factors" in the
Company's Annual Report or Form 10-K for the most recently ended fiscal
year.
Investors, Mark Kimbrough, +1-615-344-2688, or
Media, Jeff Prescott, +1-615-344-5708,
both of HCA