Jan 25 (Reuters) - Mosaic Co's (MOS.N) top executives may sell part of their stake in the world's second-largest fertilizer producer since they would not be able to sell after the planned spin-off from Cargill Inc [CARG.UL].
Last week, agribusiness giant Cargill said it plans to spin off its $24 billion majority stake in Mosaic, a move that could eventually lead to a takeover of Mosaic. [ID:nN18168494]
Mosaic's Chief Executive James Prokopanko, Chief Financial Officer Lawrence Stranghoener and others may sell a "modest" part of their stake, the company said in a filing with U.S regulators on Tuesday.
Prokopanko and Stranghoener each hold 0.2 percent of Mosaic's total outstanding shares, according to Thomson Reuters Data.
Neither Prokopanko nor Stranghoener have sold any of their shares since Mosaic was formed in 2004, the company said.
"In addition, their ability to sell company stock over the next several years may be constrained as a result of the public offerings that are contemplated as part of the split-off," Mosaic said.
The executives will limit their sale of the stock to not more than 15 percent of the dollar value of their holding, which represents less than 0.1 percent of Mosaic's outstanding shares, according to the filing.
Shares of the company were down 3 percent at $73.99 in morning trade on Tuesday on the New York Stock Exchange. They have fallen about 12 percent since Cargill announced its spin-off on Jan. 18. (Reporting by Thyagaraju Adinarayan in Bangalore; Ediiting by Maju Samuel)