June 15, 2007 / 7:19 PM / 12 years ago

Hain says SEC looking at its option practices

(Adds details, stock activity.)

CHICAGO, June 15 (Reuters) - Hain Celestial Group Inc. (HAIN.O) said on Friday it has been informed by the Securities and Exchange Commission that the agency is conducting an informal inquiry into the company’s stock options practices.

Hain, the U.S. company that makes organic and natural foods and personal care items, said it intends to cooperate with the investigation.

Hain gave no other details in a brief statement.

The company has reecorded charges in recent quarters for stock options it is contractually obligated to grant its chief executive, even though it has yet to grant those options. The company said the options have not been granted because it did not have a sufficient number of shares available under its stock award and long-term incentive plans.

Hain shares were down 51 cents, or 1.73 percent, at $28.96 on Friday on the New York Stock Exchange.

((Reporting by Brad Dorfman, editing by Leslie Gevirtz; Reuters Messaging: bradley.dorfman.reuters.com@reuters.net; 312-408-8133)) Keywords: HAIN OPTIONS/

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