BLOOMFIELD HILLS, Mich., Feb. 9 /PRNewswire-FirstCall/ --
, founder and Chairman of Pulte Homes, Inc. (NYSE: PHM), today filed a
Form 144 with the Securities and Exchange Commission covering 4.75 million
shares of company stock, or approximately 11% of the shares controlled by Mr.
Pulte, intending to sell up to that amount of shares through a prepaid
variable forward contract. The proceeds from this prepaid variable forward
contract will be used to terminate a separate prepaid variable forward
contract entered into by Mr. Pulte in February 2008 prior to its scheduled
expiration and will provide additional liquidity for Mr. Pulte. The new
prepaid variable forward contract combines 3.35 million shares pledged in the
February 2008 contract with 1.4 million new shares.
The prepaid variable forward contract allows Mr. Pulte to receive cash now
while also giving him the right to retain ownership of these shares at the end
of the 16-month term of the forward by settling the forward with cash. The
transaction also allows Mr. Pulte to retain an interest in a possible increase
in the shares' value over that 16-month period and provides protection against
a potential decline in value of Pulte shares during that same timeframe.
The filing is in accordance with the company's insider trading policy.
About Pulte Homes
Pulte Homes, Inc., (NYSE: PHM), based in Bloomfield Hills, Mich., is one
of America's largest home building companies with operations in 49 markets and
25 states. During its 59-year history, the company has delivered more than
500,000 new homes. In 2008, Pulte Homes operations ranked highest in customer
satisfaction in 11 U.S. markets, the most of any homebuilder, in the annual
J.D. Power and Associates(R) New-Home Builder Customer Satisfaction Study(sm)
. Under its Del Webb brand, Pulte is the nation's largest builder of active
adult communities for people age 55 and older. Its DiVosta Homes brand is
renowned in Florida for its distinctive master-planned communities. Pulte
Mortgage LLC is a nationwide lender offering Pulte customers a wide variety of
loan products and superior service.
Websites: www.pulte.com; www.delwebb.com; www.divosta.com
SOURCE Pulte Homes, Inc.
News Media, Mark Marymee, +1-248-433-4648,
Web Site: http://www.delwebb.com