Item 8.01. Other Events.
On November 19, 2009, Paul H. Vining, President and Chief Operating Officer
of Patriot Coal Corporation (the "Company"), adopted a pre-arranged trading plan
in accordance with guidelines specified by Rule 10b5-1 under the Securities and
Exchange Act of 1934 and the Company's stock ownership and trading policies for
executives. Rule 10b5-1 permits officers and directors of public companies to
adopt plans for selling specified amounts of stock. The plans may be entered
into only when the officer or director is not in possession of material
nonpublic information. Under Mr. Vining's Rule 10b5-1 plan, he will sell up to
70,000 shares of Company stock at prevailing market prices in order to generate
sufficient proceeds to satisfy tax payment obligations resulting from the bonus
payment he is scheduled to receive in January for consummation of the merger
transaction under which the Company acquired all of the outstanding stock of
Magnum Coal Company in July, 2008. Mr. Vining's plan will terminate on or by
January 29, 2010. Following this transaction, Mr. Vining's ownership of Company
securities will exceed his obligations under the Company's stock ownership
guidelines.
Transactions under the plan will be reported to the Securities and Exchange
Commission ("SEC") in accordance with SEC rules. The Company undertakes no
obligation to report on Form 8-K any Rule 10b5-1 plans that may be adopted by
any other officers or directors or to report on Form 8-K any modifications or
termination of any publicly announced trading plan, except to the extent as may
be required by law.
