Dean Foods (DF) CEO Exercises Options for 1.55M Shares
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Dean Foods Company (NYSE: DF) today announced that Gregg Engles, Chairman and CEO, is exercising stock options for approximately 1.55 million shares. Engles is paying the exercise price through the delivery of currently owned shares. He intends to hold all of the shares of Dean Foods common stock obtained through the option exercise net of those shares necessary to cover the related tax liability. The 1.55 million options were granted to Engles in 2002 under the company's shareholder approved stock awards plan.
Following the completion of this exercise, Engles will hold approximately 5.6 million shares of Dean Foods stock and vested options, representing approximately 3.6% of diluted shares outstanding.
The company does not expect this transaction to have a material effect on the number of diluted shares outstanding or EPS in 2008.
Dean Foods Company, together with its subsidiaries, operates as a food and beverage company in the United States.
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