IRVINE, CA -- (Marketwire) -- 02/27/09 -- 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 revised his existing pre-arranged stock trading plan under Rule 10b5-1 of the Securities and Exchange Act of 1934.
The revised plan will provide a vehicle for Mussallem to exercise his Edwards stock options due to expire in May 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 revised plan provides for the exercise and sale of approximately 40,000 shares per month beginning in April 2009.
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. 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, with more than five decades of experience in partnering with clinicians to develop life-saving innovations. Headquartered in Irvine, Calif., Edwards treats advanced cardiovascular disease with its market-leading heart valve therapies, and critical care and vascular technologies, which are sold in approximately 100 countries. The company's global brands include Carpentier-Edwards, Cosgrove-Edwards, Edwards SAPIEN, 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, Carpentier-Edwards, Cosgrove-Edwards, Edwards SAPIEN, FloTrac, Fogarty, PERIMOUNT Magna and Swan-Ganz are trademarks of Edwards Lifesciences Corporation and are registered in the United States Patent and Trademark Office.