Finance

Eshelman exercises options and holds the shares

Published in Drug Week, June 24th, 2005

PPD, Inc., (PPDI) announced that Fred N. Eshelman, chief executive officer of PPD, purchased 380,000 vested shares of PPD's common stock underlying stock options previously granted to him under the company's stock option plans.

Eshelman did not sell any of the shares of common stock acquired through the option exercises.

As a result of the purchase of these shares, Eshelman now owns approximately 5.36 million shares of PPD common stock, or approximately 9.4% of the company's outstanding common shares and remains one of PPD's largest shareholders.

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Source: Drug Week (2005-06-24)

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