IRVINE, Calif., March 17 /PRNewswire-FirstCall/ -- Edwards Lifesciences Corporation , a global leader in products and technologies to treat advanced cardiovascular disease, 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. The plan replaces a similar plan entered into last year, which expired earlier this month. The plan will provide a vehicle for Mussallem to exercise Edwards stock options, including options due to expire in 2007 and 2008, to support his strategy for philanthropic giving, asset diversification and retirement of a home mortgage loan. The plan provides for the exercise and sale of up to 14,000 shares per month.
Mussallem presently is in full compliance with the company's stock ownership guidelines for its executive officers and intends to remain in compliance throughout this stock trading plan. Transactions under this plan will be disclosed publicly through Form 144 and Form 4 filings with the U.S. Securities and Exchange Commission (SEC). The Form 4 filings will also be posted on Edwards' investor relations Web site at http://www.edwards.com/InvestorRelations.
The stock trading plan was adopted in accordance with SEC guidelines. Rule 10b5-1 allows corporate insiders to adopt written, pre-arranged stock trading plans to buy or sell a specified number of shares of company stock. Insiders may adopt such plans when they are not in possession of material, inside information in order to gradually change their investment portfolio to minimize any market effect of stock sales or purchases by spreading them out over an extended period of time, and to avoid concerns about initiating stock transactions while in possession of material, non-public information.
About Edwards Lifesciences
Edwards Lifesciences, a leader in advanced cardiovascular disease treatments, is the number-one heart valve company in the world and the global leader in acute hemodynamic monitoring. Headquartered in Irvine, Calif., Edwards focuses on specific cardiovascular opportunities including heart valve disease, peripheral vascular disease and critical care technologies. The company's global brands, which are sold in approximately 100 countries, include Carpentier-Edwards, Cosgrove-Edwards, FloTrac, Fogarty, LifeStent, PERIMOUNT and Swan-Ganz. Additional company information can be found at http://www.edwards.com.
Edwards Lifesciences, Edwards, Carpentier-Edwards, Cosgrove-Edwards, Fogarty, PERIMOUNT and Swan-Ganz are trademarks of Edwards Lifesciences Corporation and are registered in the U.S. Patent and Trademark Office. LifeStent is a trademark of Edwards Lifesciences AG and is registered in the U.S. Patent and Trademark Office. FloTrac is a trademark of Edwards Lifesciences Corporation.
Edwards Lifesciences CorporationCONTACT: Media, Barry R. Liden, +1-949-250-5070, or Investors, David K.Erickson, +1-949-250-6826, both of Edwards Lifesciences Corporation
