This excerpt taken from the POZN 10-K filed Mar 8, 2006.
Information required to be disclosed by this Item is incorporated in this annual report on Form 10-K by reference from the section entitled Executive and Director Compensation contained in our definitive proxy statement for our 2006 annual meeting of stockholders scheduled to be held on May 16, 2006, which we intend to file within 120 days of the end of our fiscal year.
This excerpt taken from the POZN 8-K filed Dec 22, 2005.
On December 16, 2005, the Compensation Committee of the Board of Directors of POZEN Inc. (the Company) approved the following annual base salaries for 2006 and annual incentive awards for 2005 performance for the named executive officers of the Company:
The stock options described above will be granted on the first business day in January 2006 pursuant to, and subject to, the terms of the Companys 2000 Equity Compensation Plan, as amended and restated (the Equity Plan), and will be incentive stock options, except for those options to be granted to Dr. Plachetka, which will be non-qualified stock options. The stock options will (i) have a ten-year term, (ii) have an exercise price equal to the Nasdaq reported closing sale price of the Companys common stock on the date of grant, (iii) vest annually over four years, subject to continued employment, and (iv) otherwise be granted on the same standard terms and conditions as other stock options granted pursuant to the Equity Plan.
The Companys compensation package for its executive officers includes base salary, cash bonuses, stock options and other incentive awards and benefits. The adjustments to base salary set forth above, which will become effective as of January 1, 2006, were made in
connection with such officers annual performance review and were based on a company-wide salary adjustment target level approved by the Compensation Committee.
Cash bonuses and stock options are awarded by the Compensation Committee based on each executive officers annual cash bonus and stock option targets, as established by the Compensation Committee, and the Compensation Committees evaluation of the performance of each executive officer. As a part of this performance evaluation, the Compensation Committee considers the achievement of the Companys overall corporate goals and the achievement of the executive officers individual goals during the year. For 2005, Dr. Plachetkas cash bonus target was 70% of his 2005 annual base salary, and his target stock option award was 187,500 options. The cash bonus target of each of the other executive officers was 40% of his or her 2005 annual base salary, and the target stock option award was 75,000 options.
This excerpt taken from the POZN DEF 14A filed Apr 14, 2005.
Summary of Compensation. The following table summarizes the compensation paid to or earned during the last three fiscal years by our chief executive officer and each of our four other most highly compensated executive officers (the Named Executive Officers).
This excerpt taken from the POZN 10-K filed Mar 9, 2005.
Information required by this Item is incorporated by reference from the section entitled Executive and Director Compensation contained in the definitive proxy statement related to our 2005 annual meeting of stockholders scheduled to be held on May 17, 2005, which we intend to file within 120 days of the end of our fiscal year.