Heard off the street: When is inside trading not inside trading?:
"Executives who used 10b5-1 plans beat the market by 6 percent over the subsequent six months while executives who didn't use them beat the market by only 1.9 percent, Mr. Jagolinzer found. Moreover, when executives terminated the stock sale plan before it ran its course -- something the SEC permits them to do -- the stock price subsequently rose a meaningful number of times."
Here is a link to the Jagolinzer paper.
Thanks TF for the heads up on the newspaper article.