UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
FORM 8-K
CURRENT REPORT
Date of report (Date of earliest event reported):May 10, 2004
MARLIN BUSINESS SERVICES CORP.
| Pennsylvania | 000-50448 | 38-3686388 | ||
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) |
| 124 Gaither Drive, Suite 170 Mount Laurel, NJ | 08054 | |
| (Address of Principal Executive Offices) | (Zip Code) |
Registrant’s telephone number, including area code:(888) 479-9111
Not Applicable
| Item 5. Other Events | ||||||||
| SIGNATURE | ||||||||
Item 5. Other Events
On May 10, 2004, Gary R. Shivers, President of Marlin Business Services Corp. (NASDAQ: MRLN), adopted a pre-arranged stock trading plan to sell a portion of his company stock over time as part of his individual long-term strategy for asset diversification and liquidity. The transactions under the trading plan will represent the first sale of company stock by Mr. Shivers since Marlin was founded in 1997.
The stock trading plan was adopted in accordance with Rule 10b5-1 of the Securities and Exchange Act of 1934. Rule 10b5-1 allows corporate officers and directors to adopt written, pre-arranged stock trading plans when they do not have material non-public information. Using their plans, company insiders can gradually diversify their investment portfolios over time while avoiding concerns that they had material non-public information when they sold their stock.
Under his Rule 10b5-1 Plan, Mr. Shivers may sell up to 80,000 shares on a pro-rata basis over a period of approximately twelve months (commencing in June 2004). The shares being sold by Mr. Shivers under the plan represent approximately 20% of the MRLN shares he beneficially owns as of May 10, 2004.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MARLIN BUSINESS SERVICES CORP. | ||||
| Date: May 11, 2004 | By: | /s/ Daniel P. Dyer | ||
| Name: Daniel P. Dyer | ||||
| Title: Chief Executive Officer | ||||
