ST. LOUIS, Oct. 23 /PRNewswire-FirstCall/ -- Monsanto Company (NYSE:
MON) today announced that several of its executives, including Hugh Grant,
chairman, president and chief executive officer, Terry Crews, executive
vice president, chief financial officer and vegetable business CEO, and
Robb Fraley, executive vice president and chief technology officer, have
established stock trading plans in accordance with Rule 10b5-1 of the
Securities Exchange Act of 1934.
Under these plans, the Monsanto executives have directed investment
brokers in the sale of shares and exercise of stock options in order to
diversify their personal financial portfolios. All executives have
previously satisfied their Monsanto stock ownership requirements, including
Mr. Grant at an amount equal to five times his annual base salary, and Mr.
Crews and Dr. Fraley at amounts equal to three times their respective
annual base salaries. Mr. Grant, Mr. Crews and Dr. Fraley hold stock in
excess of their Monsanto stock ownership requirements.
Roughly 40 Monsanto executives have stock ownership requirements of
varying levels. Monsanto established a stock ownership requirement in 2000
in connection with the company's initial public offering of stock. These
guidelines have been amended since then, most recently in June 2006, to
keep the dollar value requirements of stock ownership commensurate with
base pay multiples.
In accordance with Rule 10b5-1, officers and directors of public
companies may adopt plans for purchasing or selling securities in which the
amount, price and date of the transactions are specified. These plans may
only be entered into when the officer or director is not in possession of
material, nonpublic information.
About Monsanto Company
Monsanto Company is a leading global provider of technology-based
solutions and agricultural products that improve farm productivity and food
quality. Monsanto remains focused on enabling both small-holder and
large-scale farmers to produce more from their land while conserving more
of our world's natural resources such as water and energy. To learn more
about our business and our commitments, please visit:
http://www.monsanto.com/.
SOURCE Monsanto Company
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Related links:
http://www.monsanto.com/
http://www.prnewswire.com/comp/114341.html/
CONTACT:
Media: Justin Gioia, +1-314-694-4003,
Analysts: Scarlett Lee Foster, +1-314-694-8148, both for Monsanto
Company
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