Hormel Foods has issues a one-time award of 100 stock options to all full-time staff, the Austin, Minnesota-based marketer of consumer branded meat and food products announced yesterday (9 January).
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The stock option offers staff the opportunity to purchase stock at the closing price on 8 January 2007 – US$37.41.
“With the successful integration of a number of companies, our Hormel Foods family has grown,” said Jeff Ettinger, chairman of the board, president and chief executive officer, Hormel Foods. “This stock option award recognises the changing face of our business and unifies everyone working toward the same goal. It also aligns the interests of our employees more closely with those of our shareholders, as both will benefit from future appreciation in the value of Hormel Foods stock.”
