Flowers Foods : Announces Chairman Of Board Exercised Options
September 17, 2016 at 02:59 pm IST
Share
THOMASVILLE, Ga., Aug. 29, 2016 /PRNewswire/ -- Flowers Foods, Inc. (NYSE: FLO) today announced that George E. Deese, chairman of the board, has exercised a stock option for approximately 587,000 shares of Flowers Foods common stock. As a result, his direct ownership of the stock increased from 2.70 million shares to 2.98 million shares, which is well in excess of the company's stock ownership guidelines. The option grant, awarded to Mr. Deese under the company's Equity and Performance Incentive Plan, was set to expire this year. Solely to cover the exercise price and 50% of the federal withholding taxes due as a result of the exercise, Mr. Deese sold shares of Flowers Foods common stock acquired through the option exercise in the open market, electing to pay the remainder of the federal withholding taxes in cash.
About Flowers Foods Headquartered in Thomasville, Ga., Flowers Foods, Inc. (NYSE: FLO) is one of the largest producers of fresh packaged bakery foods in the United States, with 2015 sales of $3.8 billion. Flowers operates bakeries across the country that produce a wide range of bakery products. Among the company's top brands are Nature's Own, Wonder, and Tastykake. Learn more at www.flowersfoods.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/flowers-foods-announces-chairman-of-board-exercised-options-300319556.html
SOURCE Flowers Foods, Inc.
Investor Contact: J.T. Rieck (229) 227-2253; Media Contact: Paul Baltzer (229) 227-2380
Flowers Foods Inc. published this content on 17 September 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 17 September 2016 09:28:05 UTC.
Original documenthttp://phx.corporate-ir.net/phoenix.zhtml?c=107221&p=irol-newsArticle&ID=2203487
Public permalinkhttp://www.publicnow.com/view/7568EEE3F30DD7C43C748C8D4191042655301D50
Flowers Foods, Inc. is a producer and marketer of packaged bakery foods in the United States. The Company's products include breads, buns, rolls, snack items, bagels, English muffins, and tortillas and are sold under a variety of brand names, including Nature's Own, Dave's Killer Bread (DKB), Wonder, Canyon Bakehouse, Tastykake, and Mrs. Freshley's. Its fresh baked foods customers include mass merchandisers, supermarkets and other retailers, restaurants, quick-serve chains, food wholesalers, institutions, dollar stores and vending companies. It supplies national and regional restaurants, institutions and foodservice distributors, and retail in-store bakeries with breads and rolls. It sells packaged bakery products to wholesale distributors for ultimate sale to food outlets. It sells packaged snack cakes primarily to customers who distribute them nationwide through multiple channels of distribution, including mass merchandisers, supermarkets, vending outlets and convenience stores.