St. Louis, Missouri
October 17, 2007
Monsanto Company (NYSE:
MON) today announced that several of its executives, including:
Hugh Grant, chairman, president and chief executive officer, and
Robb Fraley, executive vice president and chief technology
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 Dr. Fraley at an amount equal
to three times his annual base salary. Both Mr. Grant and Dr.
Fraley 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, nonpublic
information.
Monsanto Company is a leading global provider of
technology-based solutions and agricultural products that
improve farm productivity and food quality. |
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