SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) August 11, 2005
THE PROCTER & GAMBLE COMPANY
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(Exact name of registrant as specified in its charter)
Ohio 1-434 31-0411980
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(State or other (Commission File Number) (IRS Employer
jurisdiction of Identification
incorporation) Number)
One Procter & Gamble Plaza, Cincinnati, Ohio 45202
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (513) 983-1100
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[ ] Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
ITEM 8.01 OTHER EVENTS
The Procter & Gamble Company (the "Company") has been advised that A.G.
Lafley, Chairman of the Board, President and Chief Executive of the Company, has
terminated his stock trading plan, which was entered pursuant to Rule 10b5-1(c)
of the Securities Exchange Act of 1934, as amended. Under Rule 10b5-1(c),
directors and officers may adopt a prearranged plan or contract for the sale of
company securities under specified conditions and at specified times.
As described in the Company's 2004 Proxy Statement, the Board of Directors
implemented a mandatory holding period for stock option gains which now requires
Mr. Lafley to hold for at least two years the net shares received from stock
option exercises, after paying the exercise price and taxes. In accordance with
the commitment, Mr. Lafley will retain shares for the required period rather
than sell them under his stock trading plan. Mr. Lafley also wishes to retain a
higher level of his stock during the initial stages of the integration of The
Gillette Company as a sign of confidence in the transaction. Accordingly, Mr.
Lafley has terminated his stock trading plan in accordance with its terms,
effective August 8, 2005.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
THE PROCTER & GAMBLE COMPANY
/S/ STEVEN W. JEMISON
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Steven W. Jemison, Secretary and
Associate General Counsel
August 11, 2005