Edwards Lifesciences' Chairman and CEO to Exercise Stock Options Under 10b5-1 Stock Trading Plan
IRVINE, CA -- (Marketwire) -- 05/07/12 -- Edwards Lifesciences Corporation (NYSE: EW), the global leader in the science of heart valves and hemodynamic monitoring, today announced that in May 2012, its chairman and chief executive officer, Michael A. Mussallem, will begin exercising stock options that are near expiration under a pre-arranged stock trading plan under Rule 10b5-1 of the Securities and Exchange Act of 1934.
The plan, which Mussallem adopted in February 2012, will provide a vehicle for him to exercise Edwards stock options due to expire in April and May 2013, and provides for the exercise and sale of up to 35,000 shares per month. Under this plan, stock sales are intended to be spread evenly over an extended period of time. Rule 10b5-1 allows corporate executives to adopt stock trading plans to buy or sell shares of company stock when they are not in possession of material, non-public information. Mussallem plans to enter into similar types of trading plans each year as new stock options near their expiration dates.
Under the company's stock ownership guidelines, Mussallem is required to own shares of company stock with an aggregate market value equal to six times his base salary. At the conclusion of the plans, Mussallem will still hold shares well in excess of the number required to meet these guidelines. Transactions under these plans will be disclosed publicly through Form 144 and Form 4 filings with the U.S. Securities and Exchange Commission. The Form 4 filings will also be posted on Edwards' investor relations Web site at www.edwards.com/investorrelations.
About Edwards Lifesciences (EW)
Edwards Lifesciences is the global leader in the science of heart valves and hemodynamic monitoring. Driven by a passion to help patients, the company partners with clinicians to develop innovative technologies in the areas of structural heart disease and critical care monitoring that enable them to save and enhance lives. Additional company information can be found at edwards.com.
Edwards, Edwards Lifesciences and the stylized E logo are trademarks of Edwards Lifesciences Corporation.
Media Contact: Amanda C. Fowler 949-250-5070 Investor Contact: David K. Erickson 949-250-6826 Edwards Lifesciences Corporation One Edwards Way Irvine, CA USA 92614 Phone: 949.250.2500 Fax: 949.250.2525 www.edwards.com
Source: Edwards Lifesciences