OVERLAND PARK, Kan.--(BUSINESS WIRE)--Feb. 16,
2005--Three executives of Compass Minerals
International, Inc. (NYSE: CMP) have established
plans to develop diversified financial portfolios
by exercising vested, non-qualified stock options
on a monthly basis. The plans, which are in
accordance with Rule 10b5-1(c)(1) under the
Securities Exchange Act of 1934, do not affect the
executives' existing holdings of Compass Minerals
stock and relate only to vested stock options.
Michael Ducey, president and chief executive
officer, will exercise options each month from
February 2005 through December 2005 to gradually
increase his Compass Minerals holdings by
approximately 20 percent. Mr. Ducey will also sell
14,900 shares from each exercise to cover the
exercise price and taxes and to diversify his
holdings. Upon completion of the plan, Mr. Ducey
will own more than 335,000 shares of Compass
Minerals stock.
Similarly, Rodney Underdown, chief financial
officer, will use his plan to increase his
ownership of Compass Minerals stock by
approximately 30 percent through the exercise of
stock options. He will sell 3,500 of the resulting
shares each month to cover exercise costs and for
financial planning purposes. His plan will expire
December 2005. Keith Clark, vice president and
General Trade general manager, will exercise
options and sell 12,769 shares each month from
February 2005 through January 2006.
About Compass Minerals International, Inc.
Based in the Kansas City metropolitan area,
Compass is the second-leading salt producer in
North America and the largest in the United
Kingdom. In addition, Compass is North America's
leading producer of sulfate of potash, which is
used in the production of specialty fertilizers
for high-value crops and turf.
This press release may contain forward-looking
statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These
statements are based on the Company's current
expectations and involve risks and uncertainties
that could cause the Company's actual results to
differ materially. The differences could be caused
by a number of factors including those factors
identified in Compass Minerals International's
registration statement on form S-3 filed with the
Securities and Exchange Commission on November 16,
2004. The Company will not update any
forward-looking statements made in this press
release to reflect future events or
developments.
CONTACT: Compass Minerals International, Inc.
Rodney L. Underdown, 913-344-9395
Vice President and Chief Financial Officer
or
Peggy Landon, 913-344-9315
Director of Investor Relations
SOURCE: Compass Minerals International, Inc.