UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported) January 19, 2006
INSPIRE PHARMACEUTICALS, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware 000-31135 04-3209022
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
4222 Emperor Boulevard, Suite 200, Durham, North Carolina 27703-8466
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (919) 941-9777
_____________________________________________
(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 obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
On January 19, 2006, the Compensation Committee of the Board of Directors approved the payment of 2005 cash bonuses to the following executive officers in the respective amounts set forth below:
Name and Title | Amount of Bonus |
Barry G. Pea, Executive Vice President, Corporate Development and General Counsel | $62,556 |
Mary B. Bennett, Executive Vice President, Operations and Communications | $62,506 |
Benjamin R. Yerxa, Chief, Scientific Operations & Alliances | $44,928 |
Joseph K. Schachle, Senior Vice President, Marketing and Sales | $56,216 |
As previously disclosed on a Current Report on Form 8-K, on December 8, 2005, the Compensation Committee of the Board of Directors approved the payment of a 2005 cash bonus to Christy L. Shaffer, President and Chief Executive Officer of Inspire, in the amount of $112,320. All of the bonuses will be paid in late January, 2006.
SIGNATURE
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.
Inspire Pharmaceuticals, Inc.
By:/s/ Barry G. Pea
Barry G. Pea, Executive Vice President,
Corporate Development and General Counsel
Dated: January 25, 2006