Flowers Foods: Chairman Of Board Exercised Options

Thomasville / GA. (ff) Flowers Foods Inc., one of the largest producer and marketer of fresh packaged bakery foods in the U.S., 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 Deese under the company’s Equity and Performance Incentive Plan, was set to expire this year. Solely to cover the exercise price and 50 percent of the federal withholding taxes due as a result of the exercise, 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.