TPTX » Topics » Nonqualified Deferred Compensation

This excerpt taken from the TPTX DEF 14A filed Jun 19, 2009.

Nonqualified Deferred Compensation

None of our Named Executive Officers participate in or have account balances in non-qualified defined contribution plans or other deferred compensation plans maintained by us.

This excerpt taken from the TPTX 10-K filed Mar 27, 2009.

Nonqualified Deferred Compensation

None of our Named Executive Officers participate in or have account balances in non-qualified defined contribution plans or other deferred compensation plans maintained by us.

This excerpt taken from the TPTX DEF 14A filed Apr 24, 2008.

Nonqualified Deferred Compensation

 

None of our Named Executive Officers participate in or have account balances in non-qualified defined contribution plans or other deferred compensation plans maintained by us.

 

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This excerpt taken from the TPTX DEF 14A filed Apr 23, 2007.

Nonqualified Deferred Compensation

None of our Named Executive Officers participate in or have account balances in non-qualified defined contribution plans or other deferred compensation plans maintained by us.

We grant restricted stock units to our executive officers and have granted a restricted stock unit to one of our consultants. The restricted stock units granted to our executive officers in 2006 will vest on March 31, 2009, provided the Company’s average closing stock price for the six-month period ending March 31, 2009 is at or above a specified amount. At the time the restricted stock unit is granted, the recipient has the option to defer the release of the common stock underlying the restricted stock unit to a future date which is after its vest date. The election to defer the release of the common stock underlying the restricted stock unit also defers the required state and federal income tax withholding requirements until those shares are released. The election to defer the release of the common shares underlying the restricted stock unit is irrevocable. The deferral agreements allow the recipient to receive the vested shares prior to the deferral date only in the event of a change in control or upon termination of employment. None of the shares underlying the restricted stock units vested in 2006.

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