NPS Pharmaceuticals 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): December 5, 2007
NPS PHARMACEUTICALS, INC.
(Exact Name of Registrant as Specified in Its Charter)
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:
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) On December 5, 2007, the Compensation Committee of the Board of Directors of NPS Pharmaceuticals, Inc. (“NPS” or the “Company”) approved the following one-time stock awards under the NPS 2005 Omnibus Incentive Plan (“2005 Plan”) to the Chief Executive Officer and certain of the Company’s 2007 Named Executive Officers in recognition of services rendered during 2007:
In recognition of the Company’s 2007 performance, the Compensation Committee approved a cash award to Dr. Coles in the amount of $450,000. The Compensation Committee also approved amendments to Dr. Coles employment agreement that provide for a 5% increase in base compensation in 2007, retroactive to March 1, 2007, and an increase of 4.5% in base compensation for the year ended December 31, 2008. The foregoing description is qualified by reference to the full text of the amendment, which will be filed as an exhibit to the Company’s Form 10-K for the year ended December 31, 2007.
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.