IRVINE, Calif., April 3, 2008 /PRNewswire-FirstCall/ -- Edwards Lifesciences Corporation (NYSE: EW), 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 that expired last month.
The new plan will provide a vehicle for Mussallem to exercise Edwards stock options due to expire in 2010. Rule 10b5-1 stock trading plans allow corporate executives to adopt written, pre-arranged stock trading plans to buy or sell a specified number of shares of company stock. Such plans may minimize any market effect of stock sales or purchases by spreading them out over an extended period of time. The new 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. Under these guidelines, Mussallem is required to own shares of company stock with an aggregate market value equal to six times his base salary. 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.
About Edwards Lifesciences
Edwards Lifesciences is the global leader in the science of heart valves and hemodynamic monitoring. Headquartered in Irvine, Calif., Edwards treats advanced cardiovascular disease with its market-leading heart valve therapies, and critical care and vascular technologies. In 2008, Edwards celebrates 50 years of partnering with clinicians to develop life-saving innovations. The company's global brands, which are sold in approximately 100 countries, include CardioVations, Carpentier-Edwards, Cosgrove-Edwards, FloTrac, Fogarty, PERIMOUNT Magna and Swan-Ganz. Additional company information can be found at http://www.edwards.com.
Edwards is a trademark of Edwards Lifesciences Corporation. Edwards Lifesciences, the stylized E logo, CardioVations, Carpentier-Edwards, Cosgrove-Edwards, FloTrac, Fogarty, PERIMOUNT Magna and Swan-Ganz are trademarks of Edwards Lifesciences Corporation and are registered in the United States Patent and Trademark Office.
|SOURCE Edwards Lifesciences Corporation|
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