UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): February 28, 2008 (February 22, 2008)
Momenta Pharmaceuticals, Inc.
(Exact Name of Registrant as Specified in Charter)
Delaware |
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000-50797 |
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04-3561634 |
(State or Other Jurisdiction
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(Commission File Number) |
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(IRS Employer Identification No.) |
675 West Kendall Street, Cambridge, MA |
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02142 |
(Address of Principal Executive Offices) |
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(Zip Code) |
(617) 491-9700
(Registrants telephone number,
including area code)
Not applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e)
On February 22, 2008, the Compensation Committee of the Board of Directors of Momenta Pharmaceuticals, Inc., a Delaware corporation (the Company), approved the following incentive cash bonuses, salary increases, grants of options to purchase shares of the Companys common stock, $0.0001 par value per share (the Common Stock) and awards of restricted Common Stock relating to performance during the fiscal year ended December 31, 2007 by the executive officers of the Company listed below:
Name |
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Bonus |
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Salary Increase |
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Shares Underlying
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Shares of Restricted
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Craig A. Wheeler |
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$ |
273,000.00 |
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3 |
% |
100,000 |
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75,000 |
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Richard P. Shea |
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$ |
85,995.00 |
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4 |
% |
34,750 |
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10,800 |
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Steven B. Brugger |
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$ |
146,575.41 |
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2.4 |
% |
40,000 |
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5,000 |
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John E. Bishop, Ph.D. |
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$ |
90,428.55 |
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4.8 |
% |
39,963 |
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10,800 |
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Ganesh Venkataraman, Ph.D. |
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$ |
92,660.58 |
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4 |
% |
34,750 |
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5,000 |
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The stock option grants set forth above were made under the Companys 2004 Stock Incentive Plan, as amended (the 2004 Stock Plan), under the following terms: (i) an exercise price equal to the last reported sale price of the Common Stock on the date of grant, or $7.41 per share, (ii) a ten year duration and (iii) vesting quarterly over the four-year period following the date of grant, provided that the optionee has a continuous relationship with the Company. The shares of restricted Common Stock set forth above were also awarded under the 2004 Stock Plan. Twenty-five percent of the shares of restricted Common Stock subject to such awards shall vest on February 22, 2009 and an additional 6.25% of the shares of restricted Common Stock shall vest at the end of each three-month period thereafter. The Companys form of Incentive Stock Option Agreement was filed as Exhibit 10.1 to the Companys Quarterly Report on Form 10-Q for the quarter ended June 30, 2004 and is incorporated herein by reference. The restricted stock awards set forth above are subject to the terms and conditions of the form of Restricted Stock Agreement filed herewith as Exhibit 10.2.
Item 9.01. |
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Financial Statements and Exhibits. |
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(d) |
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Exhibits. |
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Exhibit No. |
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Description |
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10.1 |
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Form of Incentive Stock Option Agreement (Filed as Exhibit 10.1 to the Companys Quarterly Report on Form 10-Q for the quarter ended June 30, 2004, Commission File No. 0-50797, is incorporated herein by reference). |
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10.2 |
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Form of Restricted Stock Agreement. |
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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.
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MOMENTA PHARMACEUTICALS, INC. |
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Date: February 28, 2008 |
By: |
/s/ Craig A. Wheeler |
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Craig A. Wheeler |
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President and Chief Executive Officer |
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(Principal Executive Officer) |
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Exhibit 10.2
MOMENTA PHARMACEUTICALS, INC.
Restricted Stock Agreement
Granted Under 2004 Stock Incentive Plan
AGREEMENT made on between Momenta Pharmaceuticals, Inc., a Delaware corporation (the Company ), and (the Participant ).
For valuable consideration, receipt of which is acknowledged, the parties hereto agree as follows:
The Company hereby issues to the Participant, subject to the terms and conditions set forth in this Agreement and in the Companys 2004 Stock Incentive Plan, as amended (the Plan ), shares (the Shares ) of common stock, $0.0001 par value per share, of the Company ( Common Stock ). The Shares will be held in book entry by the Companys transfer agent in the name of the Participant for that number of Shares issued to the Participant. The Participant agrees that the Shares shall be subject to the forfeiture provisions set forth in Section 2 of this Agreement and the restrictions on transfer set forth in Section 3 of this Agreement.
All Shares subject to this Agreement subject to the following restriction, in addition to any other legends that may be required under federal or state securities laws:
The shares of stock represented by this certificate are subject to forfeiture provisions and restrictions on transfer set forth in a certain Restricted Stock Agreement between the corporation and the registered owner of these shares (or his or her predecessor in interest), and such Agreement is available for inspection without charge at the office of the Secretary of the corporation.
This Agreement is subject to the provisions of the Plan, a copy of which is furnished to the Participant with this Agreement. Capitalized terms used, but not otherwise defined, herein shall have the meaning given to them in the Plan.
THE PARTICIPANT AGREES NOT TO FILE AN ELECTION UNDER SECTION 83(B) OF THE INTERNAL REVENUE CODE WITH RESPECT TO THE ISSUANCE OF THE SHARES.
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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written.
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MOMENTA PHARMACEUTICALS, INC. |
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By: |
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[Participant] |
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