Flowers Foods' executives exercise stock options

by Eric Schroeder
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Flowers Foods Flowers Baking Co. facility
Flowers Foods said all three executives sold shares of the company’s stock “solely to cover the exercise price and related tax liability.”

THOMASVILLE, GA. — Three Flowers Foods’ executives have exercised stock options over the past week.

Stephen Avera, executive vice-president, secretary and general counsel of Flowers Foods, Inc., has exercised stock options for 96,862 shares.

In a Form 4 filed with the Securities and Exchange Commission on Dec. 19, Flowers said Mr. Avera purchased 96,862 shares of Flowers stock on Dec. 15 at a price of $11.11 per share, equating to nearly $1.1 million. On Dec. 15, he sold 70,845 shares at $19.4994 per share.

Following the completion of this exercise, Mr. Avera will hold direct ownership of 428,534 shares of Flowers Foods’ common stock.

Earlier, in Form 4 filings on Dec. 16, Allen Shiver and D. Keith Wheeler, exercised stock options.

Allen Shiver, Flowers Foods
Allen Shiver, president and c.e.o. of Flowers

Mr. Shiver, president and chief executive officer, on Dec. 14 purchased 152,100 shares of Flowers Foods’ stock at a price of $11.11 per share, equating to about $1.7 million. Also on Dec. 14 he sold 89,000 shares at $19.2155 per share. Then, on Dec. 15, he sold 10,850 shares at $19.95 per share, 10,000 shares at $19.72 per share, and $7,350 shares at $19.67 per share.

Following the completion of this exercise, Mr. Shiver will hold direct ownership of 685,086 shares of Flowers Foods’ common stock.

D. Keith Wheeler, Flowers Foods
D. Keith Wheeler, president of Flowers Bakeries

Mr. Wheeler, president of Flowers Bakeries, on Dec. 14 sold 11,475 shares at a price of $11.11 per share, equating to about $127,000. He sold 6,600 shares at $19.2774 per share on Dec. 14 and 1,600 shares at $19.5057 per share on Dec. 15.

Following the completion of this exercise, Mr. Wheeler will hold direct ownership of 15,758 shares of Flowers Foods’ common stock.

Flowers Foods said all three executives sold shares of the company’s stock “solely to cover the exercise price and related tax liability.”

The company said the options were granted to the executives in 2010 under the company’s equity and performance incentive plan and will expire in February 2017. 
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