George E. Deese, Flowers Foods
George E. Deese's ownership stake increases to 2.84 million shares with the move.

THOMASVILLE, GA. — George E. Deese, chairman of the board of directors of Flowers Foods, Inc., has exercised a stock option for approximately 739,000 shares in a transaction with the company.

In a Form 4 filed with the Securities and Exchange Commission on June 3, Flowers said Mr. Deese purchased 739,462 shares of Flowers stock on June 1 at a price of $10.87 per share. On June 1, he sold 208,000 shares at $18.74 per share, an additional 253,031 shares at a price of $18.67 per share on June 2, and 99,700 shares at a price of $18.67 per share on June 3.

Flowers said the options were granted to Mr. Deese in 2011 under the company’s equity and performance incentive plan and will expire in December 2016. Following the completion of this exercise, Mr. Deese will hold approximately 2.7 million shares of Flowers Foods common stock, which Flowers said is “well in excess of the company’s stock ownership guidelines.”