IDEX Announces Restricted Stock Grant under New York Stock Exchange Rule 303A 8

Business Wire,  August 23, 2004  

Tags: New York Stock Exchange, restricted stock, stock, stock grant

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NORTHBROOK, Ill. -- IDEX Corporation (NYSE:IEX) today announced that it has granted 115,000 shares of its common stock, in the form of restricted stock, as an inducement for employment to newly hired Chief Operating Officer Lawrence D. Kingsley. In accordance with newly adopted New York Stock Exchange Rule 303A(8), these shares were granted without shareholder approval. The shares of restricted stock are subject to forfeiture in the event Mr. Kingsley resigns or his employment is terminated for cause prior to vesting. Subject to his continued employment with the company, the restricted stock vests in five equal annual installments on the anniversary of the grant date. The restricted stock vests in full upon a change in control or termination of his employment by the company without cause.

About IDEX

IDEX Corporation is a manufacturer of highly engineered pumps and metering products, dispensing equipment, and other engineered products with leading positions in niche markets. Its products are sold to a wide range of industries throughout the world. IDEX shares are traded on the New York Stock Exchange and Chicago Stock Exchange under the symbol "IEX."

For further information on IDEX Corporation and its business units, visit the company's Web site at www.idexcorp.com.

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