Printrak CEO to Sell 100,000 Private Shares

Printrak International Inc. said its president and chief executive, Richard Giles, plans to sell about 100,000 privately held Printrak shares during each of the next four quarters. The company said the planned sales are part of a regular investment portfolio diversification plan.

Giles owns 5.9 million shares, or about 53% of Printrak’s common stock outstanding. A spokesman said the company does not expect Giles’ holdings to fall below 50% during the next six months, although they might fall below that mark in the future.

The company said Giles will also transfer 80,000 shares to the Giles Family Foundation, which was established to benefit children’s causes.

Printrak stock closed unchanged Wednesday at $11.125 a share in Nasdaq trading. The company develops and makes automated fingerprint identification systems.