Annual Reports

 
Quarterly Reports

 
8-K

  • 8-K (Jan 25, 2018)
  • 8-K (Nov 21, 2017)
  • 8-K (Nov 7, 2017)
  • 8-K (Oct 24, 2017)
  • 8-K (Jul 25, 2017)
  • 8-K (Jun 13, 2017)

 
Other

Biogen Idec 8-K 2005

Documents found in this filing:

  1. 8-K
  2. 8-K
Biogen Idec Inc. Form 8-K
Table of Contents

 
 

UNITED STATES 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): February 17, 2005

Biogen Idec Inc.

(Exact name of registrant as specified in its charter)
         
Delaware   0-19311   33-0112644
(State or other jurisdiction
of incorporation)
  (Commission
File Number)
  (I.R.S. Employer
Identification No.)
     
14 Cambridge Center, Cambridge, Massachusetts   02142
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (617) 679-2000

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))
 
 

 


TABLE OF CONTENTS

Item 1.01 Entry into a Material Definitive Agreement
SIGNATURES


Table of Contents

Item 1.01 Entry into a Material Definitive Agreement

2005 Base Salary and 2004 Cash Bonuses

     On February 17, 2005, the Registrant’s Board of Directors, upon recommendation of the Registrant’s Compensation and Management Development Committee (the “Compensation Committee”), approved the 2005 annual base salaries and 2004 cash bonuses of the Registrant’s Executive Chairman and Chief Executive Officer. Also on February 17, 2005, the Compensation Committee approved the 2005 annual base salaries and 2004 cash bonuses of the Registrant’s other executive officers. The following table sets forth the annual base salary levels of the Registrant’s executive officers for 2005 and 2004 as well as the 2004 cash bonuses for each executive officer:

             
Name and Position   2004 Base Salary ($)   2005 Base Salary ($)   2004 Bonus ($)
William H. Rastetter, Ph.D., Executive Chairman
  950,000   1,000,000   1,345,200
James C. Mullen, Chief Executive Officer and President
  950,000   1,000,000   1,345,200
Burt A. Adelman, M.D., Executive Vice President, Development
  430,000   455,800   288,960
Thomas J. Bucknum, Esq., Executive Vice President, General Counsel and Secretary
  375,000   412,500   220,950
John M. Dunn, Esq., Executive Vice President, New Ventures
  344,400   358,200   206,640
Michael Gilman, Ph.D., Executive Vice President, Research
  335,000   355,000   201,000
Peter N. Kellogg, Executive Vice President, Finance and Chief Financial Officer
  475,000   532,000   327,750
Connie L. Matsui, Executive Vice President, Corporate Strategy and Communication
  315,600   325,000   189,360
Craig E. Schneier, Ph.D., Executive Vice President, Human Resources
  375,000   401,250   258,750
Mark C. Wiggins, Executive Vice President, Business Development
  315,000   330,750   189,000

     The 2005 base salary and 2004 cash bonuses of Dr. Rastetter and Mr. Mullen are consistent with the terms of their employment agreements with the Registrant. In March 2004, the Compensation Committee approved the corporate performance goals applicable to all of the Registrant’s executive officers and other employees eligible to receive cash bonuses. The Compensation Committee also approved the individual performance goals of the Registrant’s executive officers in March 2004 and the bonuses are consistent with the pre-established corporate and individual performance goals. The bonuses of Dr. Rastetter and Mr. Mullen were paid under the Registrant’s 2003 Performance-Based Management Incentive Plan, or the MIP, which was approved by the Registrant’s stockholders in November 2003.

 


Table of Contents

2005 Performance Goals

     On February 17, 2005, Registrant’s Board of Directors, upon recommendation of the Compensation Committee, approved the 2005 corporate performance goals applicable to all of the Registrant’s executive officers and other employees eligible to receive cash bonuses. The Registrant’s Board of Directors also approved the individual performance goals and bonus targets of Dr. Rastetter and Mr. Mullen. Also on February 17, 2005, the Compensation Committee approved the individual performance goals and bonus targets of the Registrant’s other executive officers.

     The 2005 bonus targets of Dr. Rastetter and Mr. Mullen are consistent with the terms of their employment agreements. The 2005 bonuses payable to Dr. Rastetter and Mr. Mullen will be made under the MIP. Actual 2005 bonuses will be determined by the Board of Directors, upon the recommendation of the Compensation Committee, with respect to Dr. Rastetter and Mr. Mullen, and by the Compensation Committee with respect to the Registrant’s other executive officers. Bonuses will be based on a formula that takes into account:

  •   Corporate performance goals, including revenue and EPS growth, performance of marketed products, milestones for products in the stages of research and development, manufacturing capacity and capability, and organizational matters; and
 
  •   Individual performance goals.

     Different multipliers are applied to each of the corporate performance goals and the individual performance goals are weighted by significance. Payment of 2005 cash bonuses, if any, is expected to be made in February 2006.

 


Table of Contents

SIGNATURES

     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.

         
    Biogen Idec Inc.
 
       
 
       
  By:   /s/ Anne Marie Cook
       
      Anne Marie Cook
Vice President, Chief Corporate Counsel
 
       
Date: February 24, 2005
       

 

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki