DALLAS, Aug. 19 /PRNewswire-FirstCall/ — Dean Foods Company (NYSE: DF)
today announced that Gregg Engles, Chairman and Chief Executive Officer, 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 earnings per share in 2008.
ABOUT DEAN FOODS
Dean Foods is one of the leading food and beverage companies in the United
States. The Company’s DSD Dairy segment is the largest processor and
distributor of milk and other dairy products in the country, with products
sold under more than 50 familiar local and regional brands and a wide array of
private labels. The Company’s WhiteWave-Morningstar segment markets and sells
a variety of nationally branded dairy and dairy-related products, such as
Silk(R) soymilk and cultured soy products, Horizon Organic(R) milk and other
dairy products, International Delight(R) coffee creamers, LAND O’LAKES(R)
creamers and other fluid dairy products. Our WhiteWave-Morningstar segment’s
Rachel’s Organic(R) dairy products brand is the second largest organic yogurt
brand in the United Kingdom. Additionally, our WhiteWave-Morningstar segment
markets and sells private label cultured and extended shelf life dairy
products through our Morningstar platform.
CONTACT: Corporate Communications, Marguerite Copel, +1-214-721-1273, or
Investor Relations, Barry Sievert, +1-214-303-3437, both of Dean Foods
Company.
SOURCE Dean Foods Company
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