OAK BROOK, Ill., Feb. 19, 2014 /PRNewswire/ -- TreeHouse Foods, Inc. (NYSE: THS) today announced that Sam K. Reed, Chairman, President and Chief Executive Officer, has adopted a prearranged trading plan commencing February 18, 2014 in order to exercise options granted in 2005 which are nearing expiration. The stock trading plan was adopted on December 31, 2013 in accordance with the guidelines specified under Rule 10b5-1 of the Securities and Exchange Act of 1934. After execution of the plan it is expected that Mr. Reed will continue to beneficially own approximately 2% of Company shares.
Mr. Reed's plan provides for the exercise of 410,377 options of TreeHouse Foods, Inc. Common Stock which are nearing the end of their term, and liquidation of all of the resulting shares at certain predetermined price levels. The trading plan is designed to facilitate the orderly exercise of employee stock options, avoiding potential future forfeiture of such options, and the sale of common stock as part of personal long-term financial planning for asset diversification and liquidity with the goal of minimizing market impact and avoiding any concerns about the timing of the transactions. Appropriate filings reporting any sales will be made with the Securities and Exchange Commission when sales are completed. The exercises and sales are subject to satisfaction of certain conditions and continue through June 26, 2015, at which date the trading plan terminates.
ABOUT TREEHOUSE FOODS
TreeHouse is a food manufacturer servicing primarily the retail grocery and foodservice channels. Its major product lines include non-dairy powdered creamer and sweeteners; condensed, ready to serve and powdered soups; refrigerated and shelf stable salad dressings and sauces; powdered drink mixes; single serve hot beverages; specialty teas; hot and cold cereals; macaroni and cheese, skillet dinners and other value-added side dishes and salads; salsa and Mexican sauces; jams and pie fillings under the E.D. Smith brand name; pickles and related products; and other food products including aseptic sauces and liquid non-dairy creamer. TreeHouse believes it is the largest manufacturer of pickles and non-dairy powdered creamer in the United States and the largest manufacturer of private label salad dressings, powdered drink mixes and instant hot cereals in the United States and Canada based on sales volume.
Additional information, including TreeHouse's most recent statements on Forms 10-Q and 10-K, may be found at TreeHouse Foods' website, http://www.treehousefoods.com.
SOURCE TreeHouse Foods, Inc.