CRGN » Topics » Discretionary Cash Bonus, Option Awards and Stock Awards

This excerpt taken from the CRGN DEF 14A filed May 19, 2009.

Discretionary Cash Bonus, Option Awards and Stock Awards

The Compensation Committee believes that discretionary cash bonuses or stock awards are appropriate from time to time to retain and motivate a successful management team. The Compensation Committee has the authority to award discretionary awards to the Named Executives and determines the amount of any discretionary bonus by evaluating a number of quantitative and qualitative factors. Some of the specific factors considered are: pipeline advancement; strategic partnership initiatives; collaboration development; clinical trial progress; cost containment efforts and financing activities. These factors are compared to overall corporate goals established by the Compensation Committee and Consultant recommendations regarding comparable levels of variable cash compensation for similar positions of responsibility. In addition, at times, the Compensation Committee may issue a sign-on bonus to a prospective executive officer as an additional incentive to join us. In 2008, under his employment agreement and in connection with his appointment as Chief Financial Officer, Mr. Cassidy was granted an option to purchase 50,000 shares of CuraGen common stock and a restricted stock award of 50,000 shares of CuraGen common stock.

This excerpt taken from the CRGN 10-K filed Apr 30, 2009.

Discretionary Cash Bonus, Option Awards and Stock Awards

The Compensation Committee believes that discretionary cash bonuses or stock awards are appropriate from time to time to retain and motivate a successful management team. The Compensation Committee has the authority to award discretionary awards to the Named Executives and determines the amount of any discretionary bonus by evaluating a number of quantitative and qualitative factors. Some of the specific factors considered are: pipeline advancement; strategic partnership initiatives; collaboration development; clinical trial progress; cost containment efforts and financing activities. These factors are compared to overall corporate goals established by the Compensation Committee and Consultant recommendations regarding comparable levels of variable cash compensation for similar positions of responsibility. In addition, at times, the Compensation Committee may issue a sign-on bonus to a prospective executive officer as an additional incentive to join us. In 2008, under his employment agreement and in connection with his appointment as Chief Financial Officer, Mr. Cassidy was granted an option to purchase 50,000 shares of CuraGen common stock and a restricted stock award of 50,000 shares of CuraGen common stock.

 

4


This excerpt taken from the CRGN DEF 14A filed Apr 18, 2008.

Discretionary Cash Bonus, Option Awards and Stock Awards

The Compensation Committee believes that periodic discretionary cash bonuses or stock awards are appropriate from time to time to retain and motivate a successful management team. The Compensation Committee has the authority to award discretionary awards to the Named Executives and determines the amount of any discretionary bonus by evaluating a number of quantitative and qualitative factors. Some of the specific factors considered are: pipeline advancement; strategic partnership initiatives; collaboration development; clinical trial progress; cost containment efforts and financing activities. These factors are compared to overall corporate goals established by the Compensation Committee and Consultant recommendations regarding comparable levels of variable cash compensation for similar positions of responsibility. In addition, at times, the Compensation Committee may issue a sign-on bonus to a prospective executive officer as an additional incentive to join us. In 2007, under his employment agreement and based on his promotion to President and Chief Executive Officer, Dr. Shannon was awarded an “appointment” bonus of $30,000 and granted an option award for 500,000 shares of CuraGen common stock. In May 2007, Dr. Armstrong, Mr. Wurzer, Mr. Finigan, and Ms. Whayland received discretionary performance-related cash bonuses of $250,000, $140,000, $200,000, and $47,500, respectively, in connection with the divestiture of our investment in 454 Life Sciences Corporation.

This excerpt taken from the CRGN DEF 14A filed Apr 4, 2007.

Discretionary Cash Bonus, Option Awards and Stock Awards

The Compensation Committee believes that periodic discretionary cash bonuses or stock awards are appropriate from time to time to retain and motivate a successful management team. The Compensation Committee has the authority to award discretionary awards to the Named Executives and determines the amount of any discretionary bonus by evaluating a number of quantitative and qualitative factors. Some of the specific factors considered are: pipeline advancement; strategic partnership initiatives; collaboration development; clinical trial progress; cost containment efforts and financing activities. These factors are compared to overall corporate goals established by the Compensation Committee and Consultant recommendations regarding comparable levels of variable cash compensation for similar positions of responsibility. In addition, at times, we may issue a sign-on bonus to a prospective executive officer as an additional incentive to join us. In 2006, as per his employment agreement, Dr. Armstrong was awarded a sign-on bonus of $175,000, which was grossed-up for tax purposes to $255,288. In addition, Dr. Armstrong was granted an option award for 500,000 shares of CuraGen common stock, an option award for 100,000 shares of 454 common stock and a stock award for 300,000 shares of CuraGen common stock. No other Named Executive received a discretionary cash bonus, option award or stock award during 2006.

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