November 15, 2018 / 11:05 PM / a month ago

Securities watchdog asks Bombardier to halt exec share sales plan

Nov 15 (Reuters) - The Canadian province of Quebec’s securities watchdog said on Thursday it has asked Bombardier Inc to suspend sales of securities under a program set up to aid share sales by certain senior executives.

The Automatic Securities Disposition Plan (ADSP), which Bombardier established in August, allows for the exercise and sale of vested securities earned by certain senior executives of the company as part of their overall performance-based compensation. (bit.ly/2TdkbeG)

The regulatory body, AMF, has asked the company to suspend all sales of securities under the ASDP until further notice and to notify the executing brokers.

Bombardier and AMF were not immediately available for comment. (Reporting by Laharee Chatterjee in Bengaluru)

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