Monsanto Company (NYSE:
MON) today announced that several of its executives, including:
Hugh Grant, chairman, president and chief executive officer, and
Terry Crews, executive vice president and chief financial
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 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 at an amount equal to three times his annual base salary.
Both Mr. Grant and Mr. Crews 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,
Monsanto Company is a leading global
provider of technology-based solutions and agricultural products
that improve farm productivity and food quality.