SCHEDULE 14A (Rule 14a-101) |
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934 (Amendment No. )
Filed by the Registrant [X]
Filed by a Party other than the Registrant [ ]
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
[X] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Rule 14a-11(c) or Rule 14a-12
Manhattan Pharmaceuticals, Inc.
(Name of Registrant as Specified in Its Charter)
(Name of Person(s) Filing Proxy Statement if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
(1) Title of each class of securities to which transaction applies:
(2) Aggregate number of securities to which transaction applies:
(3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (Set forth the amount on which the filing fee is calculated and state how it was determined):
(4) Proposed maximum aggregate value of transaction:
(5) Total fee paid:
[ ] Fee paid previously with preliminary materials.
[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing.
(1) Amount previously paid:
(2) Form, schedule or registration statement no.:
(3) Filing party:
(4) Date filed:
- To elect nine directors;
- To ratify and approve the Company’s 2003 Stock Option Plan;
- To ratify the appointment of J.H. Cohn LLP as independent auditors of the Company for fiscal 2004; and
- To transact any other business as may properly come before the meeting or any adjournments thereof.
By Order of the Board of Directors, | ||
MANHATTAN PHARMACEUTICALS, INC. | ||
s/ Nicholas J. Rossettos | ||
Nicholas J. Rossettos, Secretary | ||
July 26, 2004 |
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Name | Age | Position | Director Since | |||
Leonard Firestone, M.D. | 52 | President, Chief Executive Officer and Director | 2003 | |||
Neil Herskowitz | 47 | Director | 2004 | |||
Malcolm Hoenlein | 60 | Director | 2004 | |||
Joshua Kazam | 27 | Director | 2003 | |||
Timothy McInerney | 43 | Director | 2004 | |||
Joan Pons Gimbert | 54 | Director | 2003 | |||
Richard I. Steinhart | 47 | Director | 2004 | |||
David M. Tanen | 33 | Director | 2002 | |||
Michael Weiser, M.D. | 41 | Director | 2003 |
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Name | Age | Position | ||
Leonard Firestone, M.D. | 52 | President and Chief Executive Officer and Director | ||
Nicholas J. Rossettos | 38 | Chief Financial Officer, Chief Operating Officer and Secretary |
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Annual Compensation | Long-Term Compensation Awards | All Other Compensation ($) | ||||
Name and Principal Position | Year | Salary($) | Bonus($) | Other Annual Compensation ($) | Securities Underlying Options/SARs(#) | |
Leonard Firestone(1) Chief Executive Officer and President | 2003 2002 2001 | 250,000 — — | 200,000 — — | 0 — — | 584,060 — — | 0 — — |
Nicholas J. Rossettos Chief Operating Officer, Chief Financial Officer, Treasurer & Secretary | 2003 2002 2001 | 142,788 107,645 125,000 | 25,000 25,000 25,000 | 22,397(2) 10,000(3) 10,000(3) | 292,030 55,000 10,000 | 0 0 |
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Name | Number of Securities Underlying Options Granted | Percent of Total Options Granted to Employees in Fiscal Year | Exercise or Base Price ($/Share)(1) | Expiration Date | ||||
Dr. Firestone | 584,600 | 67 | 0.40 | 2/24/2013 | ||||
Mr. Rossettos | 292,030(2) | 33 | 0.40 | 2/24/2013 |
Name | Shares | Value Realized(1) | No. of Securities Underlying Unexercised Options/SARs at FY-End (#) | Value of Unexercised In-the- Money Options/SARs at FY-End (Market price of shares at FY- End less exercise price) ($)(2) | ||
Exercisable | Unexercisable | Exercisable | Unexercisable | |||
Dr. Firestone | 0 | — | 584,600 | 0 | 689,828 | 0 |
Mr. Rossettos | 0 | — | 208,515 | 158,515 | 192,573 | 176,423 |
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156,600 | $9.24 | 142,167 | |||||
1,236,090 | $ 0.72 | 5,400,000 |
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J.H. Cohn LLP | Weinberg & Company, P.A. | |||||||||||
Fee Category | Fiscal 2003 Fees | Fiscal 2003 Fees | Fiscal 2002 Fees | |||||||||
Audit Fees (1) | $ | 88,400 | $ | — | $ | — | ||||||
Audit-Related Fees (2) | 8,800 | 4,100 | 1,425 | |||||||||
Tax Fees (3) | 5,400 | — | — | |||||||||
All Other Fees (4) | — | — | — | |||||||||
Total Fees | $ | 102,600 | $ | 4,100 | $ | 1,425 |
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Percent | |||||||||||||
Common Stock | Series A Preferred | of Total | |||||||||||
Voting | Voting | ||||||||||||
Name | Number | Percent | Number | Percent | Power(1) | Power(1) | |||||||
Leonard Firestone(2) | 584,060 | 2.1 | — | — | — | — | |||||||
Nicholas J. Rossettos(3) | 258,650 | * | — | — | — | — | |||||||
Neil Herskowitz(4) | 2,500 | * | 4,859 | * | 46,668 | * | |||||||
Malcolm Hoenlein | 0 | — | — | — | — | — | |||||||
Joshua Kazam(5) | 329,198 | 1.2 | — | — | 304,198 | * | |||||||
Timothy McInerney(6) | 567,028 | 2.1 | — | — | 508,386 | 1.4 | |||||||
Michael Weiser(5) | 1,485,216 | 5.5 | — | — | 1,460,216 | 4.1 | |||||||
Joan Pons Gimbert(7) | 3,982,037 | 14.9 | — | — | 3,982,037 | 11.1 | |||||||
Richard I Steinhart | 0 | — | — | — | — | — | |||||||
David M. Tanen(8) | 405,980 | 1.5 | — | — | 368,580 | 1.0 | |||||||
All directors and officers as a group(9) | 7,658,837 | 27.4 | — | — | 6,481,257 | 18.1 | |||||||
Lindsay A. Rosenwald(10) | 2,957,261 | 10.8 | 24,294 | 2.4 | 2,440,429 | 6.8 | |||||||
Oleoylestrone Developments, SL(11) Josep Samitier 1-5 08028 Barcelona Spain | 3,982,037 | 14.9 | — | — | 3,982,037 | 11.1 | |||||||
Jay Lobell(12) 365 West End Avenue New York, NY 10024 | 4,078,890 | 15.1 | 34,012 | 3.4 | 4,078,890 | 11.4 | |||||||
Atlas Fund, LLC (13) 181 West Madison, Suite 3600 Chicago, IL 60602 | 1,818,182 | 6.8 | — | — | 1,818,182 | 5.1 | |||||||
Keys Foundation de Ruyterkade 62 Curacao, Netherlands Antilles | 0 | — | 58,306 | 5.8 | 530,001 | 1.5 |
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By Order of the Board of Directors, | ||
MANHATTAN PHARMACEUTICALS, INC. | ||
s/ Nicholas J. Rossettos | ||
Nicholas J. Rossettos, Secretary |
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FOR | WITHHOLD AUTHORITY | FOR | AGAINST | ABSTAIN | ||
1. ELECTION OF DIRECTORS: | [ ] | [ ] | 2. PROPOSAL TO RATIFY AND APPROVE 2003 STOCK OPTION PLAN. | [ ] | [ ] | [ ] |
(To withhold authority to vote for any individual nominee, strike a line through that nominee’s name in this list below) LEONARD FIRESTONE, M.D. NEIL HERSKOWITZ MALCOLM HOENLEIN JOSHUA KAZAM TIMOTHY McINERNEY JOAN PONS GIMBERT RICHARD I. STEINHART DAVID M. TANEN MICHAEL WEISER, M.D. | 3. PROPOSAL TO RATIFY APPOINTMENT OF J.H. COHN LLP AS INDEPENDENT AUDITORS FOR 2004. | [ ] | [ ] | [ ] | ||
4. In their discretion, the Proxies are authorized to vote upon such other business as may come before the Meeting. | ||||||
COMPANY NO.: PROXY NUMBER: ACCOUNT NUMBER: |