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EXAC » Topics » Summary Compensation Table

This excerpt taken from the EXAC DEF 14A filed Mar 27, 2009.

Summary Compensation Table

The following compensation table sets forth, for the fiscal year ended December 31, 2008 the cash and certain other compensation paid or accrued by us to our Chief Executive Officer, Chief Financial Officer and each of our other three most highly compensated executive officers whose total 2008 salary and bonus exceeded $100,000.

 

Name and Principal Position

    Year    Salary
($)		    Bonus
($)(1)		    Option
Awards
($)(3)		    Non-Equity
Incentive Plan
Compensation
($)(4)		    All Other
Compensation
($)(5)		     Total
($)
(a)    (b)    (c)    (d)    (f)    (g)    (i)     (j)

William Petty, M.D.
Chairman of the Board, Chief Executive Officer

    2008
2007
2006		    494,005
441,755
364,816		    8,355
11,251
7,296		    34,625
45,049
516		    —  
225,030
64,207		    164,067
172,088

156,491

  
 (2)

 (2)

   701,052
895,173
593,326

David W. Petty
President and Director

    2008
2007
2006		    304,011
276,387
251,318		    5,152
6,967
5,028		    71,749
89,150
516		    —  
104,496
33,174		    11,990
13,819
6,600		  
 
 		   392,902
490,819
296,636

Joel C. Phillips, CPA
Chief Financial Officer and Treasurer

    2008
2007
2006		    277,787
258,133
235,435		    4,746
6,505
4,709		    71,749
99,394
20,993		    —  
97,570
31,077		    12,988
12,907
6,600		  
 
 		   367,270
474,509
298,814

Gary J. Miller, Ph.D.
Executive Vice President, Research and Development

    2008
2007
2006		    253,727
239,973
219,517		    4,362
6,046
4,390		    34,625
45,049
516		    —  
90,684
28,977		    165,500
161,999

156,585

  
 (2)

 (2)

   458,214
543,751
409,985

Bruce Thompson
Senior Vice President, General Manager – Biologics and Spine Division

    2008
2007
2006		    343,693
322,471
293,805		    5,891
8,125
5,893		    71,749
89,150
516		    —  
121,871
38,892		    11,267
16,124
6,512		  
 
 		   432,600
557,741
345,618

 

(1)

Includes profit-sharing plan payments, which are determined and distributed based on a portion of earnings after certain predetermined quarterly financial targets are achieved.

(2)

Amounts include royalties of $150,000, paid pursuant to employment agreements between us and each of Drs. Petty and Miller. See “Certain Transactions.”

(3)

Amounts in this column reflect the expense recognized for the indicated fiscal year, in accordance with SFAS 123R, with respect to stock option awards issued for the purchase of our common stock, which may include awards granted during the indicated year or earlier. The estimate of forfeitures related to service-based vesting conditions is disregarded for purposes of this valuation. For details of individual grants during 2008, please see the Grants of Plan-Based Awards table below. There were no forfeitures of awards by any of the named executive officers during the fiscal year. The assumptions on which this valuation is based are set forth in Note 11 of the Notes to the Consolidated Financial Statements included in our annual report on Form 10-K filed with the Securities and Exchange Commission on March 13, 2009.

(4)

Amounts are comprised of cash incentive earned under the 2003 Plan and royalty payments where noted above in footnote 2.

(5)

Represents matching contributions made by us under our 401(k) plan. The aggregate amount of perquisites and other personal benefits provided to each Executive Officer is less than $10,000 for each officer.

 

21

This excerpt taken from the EXAC DEF 14A filed Apr 9, 2007.

Summary Compensation Table

The following compensation table sets forth, for the fiscal year ended December 31, 2006 the cash and certain other compensation paid or accrued by us to our Chief Executive Officer, Chief Financial Officer and each of our other three most highly compensated executive officers whose total 2006 salary and bonus exceeded $100,000.

 

Name and Principal Position

    Year   

Salary

($)

   

Bonus

($)(1)

   

Option

Awards
($)(3)

   

Non-Equity

Incentive Plan
Compensation

($)(4)

    

All Other

Compensation

($)(5)

   

Total

($)

(a)    (b)    (c)    (d)    (f)    (g)     (i)    (j)

William Petty, M.D.

Chairman of the Board, President and Chief Executive Officer

    2006    364,816    7,296    516    214,207  (2)   6,491    593,326

Joel C. Phillips, CPA

Chief Financial Officer and Treasurer

    2006    235,435    4,709    20,993    31,077     6,600    298,814

Gary J. Miller, Ph.D.

Executive Vice President, Research and Development

    2006    219,517    4,390    516    178,977  (2)   6,585    409,985

David W. Petty

Executive Vice President, Sales and Marketing

    2006    251,318    5,028    516    33,174     6,600    296,636

Bruce Thompson

Senior Vice President, General Manager – Biologics Division

    2006    293,805    5,893    516    38,892     6,512    345,618

(1)

Includes profit-sharing plan payments, which are determined and distributed based on a portion of earnings after certain predetermined quarterly financial targets are achieved.

 

(2)

Amounts include royalties of $150,000, paid pursuant to employment agreements between us and each of Drs. Petty and Miller. See “Certain Transactions.”

 

(3)

Amounts in this column reflect the expense recognized for the indicated fiscal year, in accordance with SFAS 123R, with respect to stock option awards issued for the purchase of our common stock, which may include awards granted during the indicated year or earlier. The estimate of forfeitures related to service-based vesting conditions is disregarded for purposes of this valuation. For details of individual grants during 2006, please see the Grants of Plan-Based Awards table below. There were no forfeitures of awards by any of the named executive officers during the fiscal year. The assumptions on which this valuation is based are set forth in Note 9 of the Notes to the Consolidated Financial Statements included in our annual report on Form 10-K filed with the Securities and Exchange Commission on March 16, 2007. Prior to 2006, we followed the guidance of APB 25 to recognize employee stock options, and thus did not recognize share based compensation expense for options vested prior to our adoption of SFAS 123R on January 1, 2006.

 

(4)

Amounts are comprised of cash incentive earned under the 2003 Plan and royalty payments where noted above in footnote 2.

 

18

(5) Represents matching contributions made by us under our 401(k) plan. The aggregate amount of perquisites and other personal benefits provided to each Executive Officer is less than $10,000 for each officer.

EXCERPTS ON THIS PAGE:

DEF 14A
Mar 27, 2009
DEF 14A
Apr 9, 2007

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