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Orchids Paper Comments on Unusual Trading Activity

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Orchids Paper Products Co., Brentwood, Tenn., USA, this week confirmed that a member of its board of directors, Mario Armando Garcia Franco, sold 215,000 shares of Orchids' stock into the market between May 12 and May 22, of 2017, inclusive. 

According to the company, Garcia stated on May 23, 2017, that "I have completed the sale of all of the shares I intend to sell. My reasons for selling were personal. I remain committed to the long-term success of Orchids, and I believe in the company's future success." 

Garcia retains 686,083 shares as of this date, all of which are restricted through June 2024. In addition, officers and other directors of the company filed Form 4's for the aggregate purchase of 39,100 shares during the past few weeks.

Orchids Paper Products is a national supplier of consumer tissue products primarily serving the at home private label consumer market. The company produces a full line of tissue products, including paper towels, bathroom tissue, and paper napkins, to serve the value through ultra-premium quality market segments from its operations in northeast Oklahoma, Barnwell, S.C., and Mexicali, Mexico. The company provides these products primarily to retail chains throughout the U.S. 

 

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