Edwards Lifesciences Corporation' Chairman and CEO to Exercise Stock Options Under 10b5-1 Stock Trading Plan
Published: Mar 01, 2013
IRVINE, CA--(Marketwire - March 01, 2013) - Edwards Lifesciences Corporation (NYSE: EW), the global leader in the science of heart valves and hemodynamic monitoring, today announced that its chairman and chief executive officer, Michael A. Mussallem, has adopted a pre-arranged stock trading plan under Rule 10b5-1 of the Securities and Exchange Act of 1934. In May 2013, the plan will begin exercising stock options, the vast majority of which are scheduled to expire in 2014.
The plan anticipates the exercise and sale of 29,500 shares per month at market prices between May 2013 and April 2014. 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 stock options near their expiration dates in order to spread sales evenly over an extended period of time.
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 ir.edwards.com.
About Edwards Lifesciences
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.
David K. Erickson