THOMASVILLE, Ga., Aug. 22, 2014 /PRNewswire/ -- Flowers Foods, Inc.
(NYSE: FLO), the second-largest producer and marketer of packaged
bakery foods in the United States,
today announced that George E.
Deese, executive chairman, has exercised stock options for
approximately 529,000 shares in a transaction with the company. He
intends to hold for the foreseeable future the shares of Flowers
Foods common stock obtained through this option exercise, net of
those shares necessary to cover the exercise price and related tax
liability.
The options were granted to Mr. Deese in 2008 under the
company's Equity and Performance Incentive Plan and will expire in
February 2015. Following the
completion of this exercise, Mr. Deese will hold approximately 2.2
million shares of Flowers Foods common stock, well in excess of the
company's stock ownership guidelines.
About Flowers Foods
Headquartered in Thomasville, Ga., Flowers Foods, Inc. (NYSE:
FLO) is one of the largest producers of fresh packaged bakery foods
in the United States with 2013
sales of $3.75 billion. Flowers
operates bakeries across the country that produce a wide range of
bakery products. Among the company's top brands are Nature's
Own, Wonder, and Tastykake. Learn more at
www.flowersfoods.com.
Forward-Looking Statements
Statements contained in
this press release that are not historical facts are
forward-looking statements. Forward-looking statements relate to
current expectations regarding future transactions by our Executive
Chairman in our common stock and are often identified by the use of
words and phrases such as "anticipate," "believe," "continue,"
"could," "estimate," "expect," "intend," "may," "plan," "predict,"
"project," "should," "will," "would," "is likely to," "is expected
to" or "will continue," or the negative of these terms or other
comparable terminology. All forward-looking statements are
subject to risks and uncertainties that could cause actual results
to differ from those projected. Other factors that may cause actual
results to differ from the forward-looking statements contained in
this release and that may affect the company's prospects in general
include, but are not limited to, (a) competitive conditions in the
baked foods industry, including promotional and price competition,
(b) changes in consumer demand for our products, including changes
in consumer behavior, trends and preferences, including health and
whole grain trends, and the movement toward more inexpensive
store-branded products, (c) the success of productivity
improvements and new product introductions, (d) a significant
reduction in business with any of our major customers including a
reduction from adverse developments in any of our customer's
business, (e) fluctuations in commodity pricing, (f) energy and raw
material costs and availability and hedging and counterparty risk,
(g) our ability to fully integrate recent acquisitions into our
business, (h) our ability to achieve cash flow from capital
expenditures and acquisitions and the availability of new
acquisitions that build shareholder value; (i) consolidation within
the baking industry and related industries; and (j) the failure of
our information technology systems to perform adequately, including
any interruptions, intrusions or security breaches of such
systems. The foregoing list of important factors does not
include all such factors, nor necessarily present them in order of
importance. In addition, you should consult other disclosures made
by the company, including the risk factors included in our most
recently filed Annual Report on Form 10-K filed with the Securities
and Exchange Commission ("SEC") and disclosures made in other
filings with the SEC and company press releases, for other factors
that may cause actual results to differ materially from those
projected by the company. We caution you not to place undue
reliance on forward-looking statements, as they speak only as of
the date made and are inherently uncertain. The company undertakes
no obligation to publicly revise or update such statements, except
as required by law.
SOURCE Flowers Foods, Inc.