St. Louis, Missouri
July 11, 2005
Monsanto Company (NYSE:
MON) today filed a Form 4 (Statement of Changes in Beneficial
Ownership) with the U.S. Securities and Exchange Commission on
behalf of Terry Crews, the company’s Chief Financial Officer in
connection with his exercise of certain of his employee stock
options.
Crews’ stock option exercise
included retaining a portion of the shares received upon
exercise in order to satisfy his holdings target under
Monsanto's executive stock ownership requirements. He also sold
shares to cover the exercise price of his stock options, to
satisfy applicable tax obligations and fees, and to diversify
his personal financial portfolio.
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 were recalibrated in April 2005, keeping the dollar
value requirements of stock ownership commensurate with annual
salary levels and adjusting the number of held shares based on
the fair market value of the company’s stock.
"I’m a strong proponent of
stock ownership requirements because it means as a management
team we are aligned with our shareowners by sharing the risks
and rewards inherent in Monsanto stock," Crews said. "It is a
motivating factor for our team that keeps us focused on setting
the bar higher and delivering on our commitments."
Crews’ holdings after this
recent exercise exceed his requirement to own Monsanto stock in
an amount equal to three times his annual base salary.
Monsanto Company is a
leading global provider of technology-based solutions and
agricultural products that improve farm productivity and food
quality. |