Dean Foods Company (DF) said Friday that its Chairman and Chief Executive Officer, Gregg Engles, has exercised stock options for about 950,000 shares in a net exercise transaction with the company.
Engles intends to hold all of the shares obtained through the option exercise, net of those shares necessary to cover the exercise price and related tax liability.
The 950,000 share options were granted to Engles in 2003 under a shareholder approved stock awards plan which will expire in January of 2013.
Following the completion of this exercise, Engles will hold about 2,829,061 shares of Dean Foods common stock.
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