Genelabs Technologies 8-K 2007
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of report (Date of earliest event reported): June 15, 2007
Genelabs Technologies, Inc.
(Exact Name of Registrant as Specified in its Charter)
Registrants telephone number, including area code: (650) 369-9500
(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 obligations of the registrant under any of the following provisions:
Item 5.02(e). Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Approval of the 2007 Omnibus Stock Incentive Plan
At the Annual Meeting (the Annual Meeting) of Shareholders of Genelabs Technologies, Inc. (the Company), held on June 15, 2007, the shareholders of the Company approved the Genelabs Technologies, Inc. 2007 Omnibus Stock Incentive Plan (the 2007 Plan), which provides for the reservation of 3,400,000 shares of the Companys common stock, plus all available shares of common stock for grant under the Companys 2001 Stock Option Plan (the 2001 Plan) as of the date of the Annual Meeting and any and all shares of common stock that would have been returned to the 2001 Plan by reason of expiration of its term or cancellation upon termination of employment or service. The 2007 Plan is intended to be a successor to the 2001 Plan. No additional grants will be made under the 2001 Plan. The 2007 Plan is administered by the Compensation Committee of the Board of Directors of the Company, and provides for the grant of stock options, stock appreciation rights, and awards of restricted stock, deferred stock and performance shares.
A description of the material terms of the 2007 Plan is included under Proposal 2. Approval of the Adoption of the Genelabs Technolgies, Inc. 2007 Omnibus Stock Incentive Plan in our Proxy Statement for the Annual Meeting, filed with the SEC on April 27, 2007, which description is incorporated herein by reference.
Approval of the Amendment to the 2001 Employee Stock Purchase Plan
At the Annual Meeting, the shareholders of the Company also approved an amendment to the 2001 Employee Stock Purchase Plan (the ESPP) to increase the number of shares of common stock reserved for issuance thereunder by 1,000,000 shares.
A description of the material terms of the ESPP is included under Proposal 3. Approval of the Amendment to the Genelabs Technologies, Inc. 2001 Employee Stock Purchase Plan in our Proxy Statement for the Annual Meeting, filed with the SEC on April 27, 2007, which description is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
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.