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ELN: Kelly, Ekman Unload Shares Via 10b5-1 Plans

http://biz.yahoo.com/bw/080204/20080204006240.html?.v=1

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Elan Reports Share Sales under 10b5-1 Plan

Monday February 4, 4:45 pm ET

DUBLIN, Ireland--(BUSINESS WIRE)--Elan Corporation, plc (NYSE: ELN ) announced today that Kelly Martin, President and CEO, has sold shares under a pre-arranged stock trading plan established in accordance with Rule 10b5-1 promulgated under the Securities Exchange Act of 1934, as amended. The plan allows for the exercise of stock options for ordinary shares of Elan and the sale of those shares in a systematic manner. Mr. Martin adopted the plan in May 2006. This was the first sale made under the plan. Additional sales may occur in the future pursuant to the terms of the plan.

In addition, Dr. Lars Ekman, who retired as President of Research and Development on December 31, 2007, and who continues as an advisor and a member of the board of directors and chairman of the science & technology committee of the board, has also entered into a pre-arranged stock trading plan established in accordance with Rule 10b5-1. Dr. Ekman’s plan allows for the exercise of stock options for ordinary shares of Elan and the sale of those shares in a systematic manner on up to six occasions between late February 2008 and December 31, 2009, at which date all of Dr. Ekman’s current options will expire. The first sale of 125,000 Elan ordinary shares by Dr. Ekman is expected to occur in late February 2008.
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