Flowers Foods Executives Exercise Options

THOMASVILLE, Ga., Nov. 15, 2017 /PRNewswire/ -- Flowers Foods, Inc. (NYSE: FLO) today announced that Allen L. Shiver, president and chief executive officer; Bradley K. Alexander, president, fresh packaged bread business unit; and D. Keith Wheeler, chief sales officer, exercised stock options this week.

Mr. Shiver exercised stock options for 226,125 shares and consequently increased his direct ownership from 752,228 shares of Flowers Foods common stock to 801,272 shares, which is well in excess of the company's stock ownership guidelines. Solely to cover the exercise price and related tax liability, Mr. Shiver sold shares of Flowers Foods common stock obtained through this option exercise in the open market. The options were granted to Mr. Shiver in 2011 under the company's Equity and Performance Incentive Plan and were set to expire in February 2018.

Mr. Alexander exercised stock options for 110,362 shares and consequently increased his direct ownership from 245,412 shares of Flowers Foods common stock to 274,774 shares, which is well in excess of the company's stock ownership guidelines. Solely to cover the exercise price and related tax liability, Mr. Alexander sold shares of Flowers Foods common stock obtained through this option exercise in the open market. The options were granted to Mr. Alexander in 2011 under the company's Equity and Performance Incentive Plan and were set to expire in February 2018.

Mr. Wheeler exercised stock options for 25,987 shares and consequently increased his direct ownership from 21,424 shares of Flowers Foods common stock to 29,357 shares. Solely to cover the exercise price and related tax liability, Mr. Wheeler sold shares of Flowers Foods common stock obtained through this option exercise in the open market. The options were granted to Mr. Wheeler in 2011 under the company's Equity and Performance Incentive Plan and were set to expire in February 2018.

About Flowers Foods
Headquartered in Thomasville, Ga., Flowers Foods, Inc. (NYSE: FLO) is one of the largest producers of fresh packaged bakery foods in the United States with 2016 sales of $3.9 billion. Flowers operates bakeries across the country that produce a wide range of bakery products. Among the company's top brands are Nature's Own, Wonder, Tastykake, and Dave's Killer Bread. Learn more at www.flowersfoods.com.

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SOURCE Flowers Foods, Inc.

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