THOMASVILLE, Ga., Dec. 18, 2014 /PRNewswire/ -- Flowers Foods,
Inc. (NYSE: FLO), the second-largest producer and marketer of
packaged bakery foods in the United
States, today announced that Allen
L. Shiver, president and chief executive officer, and
Stephen R. Avera, executive vice
president, secretary, and general counsel, exercised stock options
this week.
Mr. Shiver exercised options for 82,125 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. Shiver
in 2008 under the company's Equity and Performance Incentive Plan
and will expire in February 2015.
Following the completion of this exercise, Mr. Shiver will hold
approximately 529,000 shares of Flowers Foods common stock, well in
excess of the company's stock ownership guidelines.
Mr. Avera exercised options for 78,862 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. Avera in
2008 under the company's Equity and Performance Incentive Plan and
will expire in February 2015.
Following the completion of this exercise, Mr. Avera will hold
approximately 352,000 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 President and Chief Executive Officer and our
Executive Vice President, Secretary, and General Counsel 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.
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SOURCE Flowers Foods, Inc.