Melville, New York, August 5, 2009….Park Electrochemical Corp. (NYSE-PKE)
announced that Brian E. Shore, its President and Chief Executive
Officer, has sold 60,000 shares of common stock of the company. Mr.
Shore acquired these shares pursuant to the exercise of stock options on
June 10, 2009, shortly before the expiration of the ten year options
which had been granted to him in June 1999. Mr. Shore must sell these
shares before the end of the calendar year to avoid significant
additional income tax obligations resulting from the exercise of the
options, and he is selling the shares to obtain funds to finance the
payment of the exercise price of the options and to pay the tax
liability resulting from the exercise of the options. Mr. Shore has
received no salary increase during the company’s last nine fiscal years
and has received only one bonus since the company’s fiscal year ended
February 25, 2001, which he received for the 2008 fiscal year and which
he donated to charity. With the exception of the 2008 fiscal year bonus,
Mr. Shore has declined to accept the Compensation Committee’s offer of
bonuses and salary increases since 2001. In addition, although
employment agreements have been offered to Mr. Shore on a number of
occasions in the past, Mr. Shore has declined to accept such offers.
Park Electrochemical Corp. is a global advanced materials company which
develops and manufactures high-technology digital and RF/microwave
printed circuit materials principally for the telecommunications and
internet infrastructure and high-end computing markets and advanced
composite materials and parts principally for the aerospace markets.
Park’s core capabilities are in the areas of polymer chemistry
formulation and coating technology. Park also specializes in the
manufacture of complex composite aircraft and space vehicle parts. The
Company’s manufacturing facilities are located in Singapore, China,
France, Connecticut, Kansas, Arizona, California and Washington.
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