DALLAS, Feb. 20 /PRNewswire-FirstCall/ — Dean Foods Company (NYSE: DF)
today announced that Gregg Engles, Chairman and Chief Executive Officer,
intends to exercise stock options for approximately 1.9 million shares.
Engles will pay 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 1.9 million options were granted to Engles
between 1997 and 2001 under the company’s shareholder approved stock awards
Following the completion of this exercise, Engles will hold approximately
4.6 million shares of Dean Foods stock and vested options, representing 3.2%
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 2006.
About Dean Foods
Dean Foods Company is one of the leading food and beverage companies in
the United States. Its Dairy Group division 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 Foods subsidiary is the nation’s
leading organic foods company. WhiteWave Foods markets and sells a variety of
well-known dairy and dairy-related products, such as Silk(R) soymilk, Horizon
Organic(R) dairy products and juices, International Delight(R) coffee creamers
and LAND O’LAKES(R) creamers and cultured products. Dean Foods Company also
owns the fourth largest dairy processor in Spain and the leading brand of
organic dairy products in the United Kingdom.
Contact: Barry Sievert
Senior Director, Investor Relations
SOURCE Dean Foods Company