St. Louis, Missouri
October 23, 2008
Monsanto Company (NYSE: MON) today announced that several of
its executives, including Hugh Grant, chairman, president and
chief executive officer, Terry Crews, executive vice president,
chief financial officer and vegetable business CEO, 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
investment 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
and Dr. Fraley at amounts equal to three times their respective
annual base salaries. Mr. Grant, Mr. Crews 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.
Monsanto remains focused on enabling both small-holder and
large-scale farmers to produce more from their land while
conserving more of our world's natural resources such as water
and energy. |
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