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Park Electrochemical Corp. Announces Stock Sale by President and Chief Executive Officer.

MELVILLE, N.Y. -- Park Electrochemical Corp. (NYSE-PKE) announced that Brian E. Shore, its President and Chief Executive Officer, has sold 112,500 shares of common stock of the company. Mr. Shore acquired these shares pursuant to the exercise of stock options on May 21, 2007, shortly before the expiration of the ten year options which had been granted to him in May 1997. 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 is not in a position financially to exercise such options and to hold the shares acquired pursuant to such exercise. Mr. Shore has received no salary increase during the company's last seven fiscal years and has received no bonus since the company's fiscal year ended February 25, 2001. As he has in the past, Mr. Shore declined to accept the Compensation Committee's offer of a bonus for the fiscal year ended February 25, 2007 and a salary increase for the fiscal year ending March 2, 2008. 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 (the Nelco[R] product line) and advanced composite materials (the Nelcote[TM] product line) principally for the telecommunications and internet infrastructure, high-end computing and aerospace markets. Park focuses on the general aviation aircraft segment of the aerospace market. Park's core capabilities are in the areas of polymer chemistry formulation and coating technology. The Company's manufacturing facilities are located in Singapore, China, France, Connecticut, New York, Arizona and California. In addition, as recently announced, the Company plans to construct a new facility in Newton, Kansas.

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Publication:Business Wire
Date:Sep 26, 2007
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