UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): February 26, 2010 (February 22, 2010)
ALLOS THERAPEUTICS, INC.
(Exact name of registrant as specified in its charter)
Delaware | | 000-29815 | | 54-1655029 |
(State or other jurisdiction
of incorporation) | | (Commission
File Number) | | (IRS Employer
Identification No.) |
11080 CirclePoint Road, Suite 200
Westminster, Colorado | | 80020 |
(Address of principal executive offices) | | (Zip Code) |
Registrant’s telephone number, including area code: (303) 426-6262
Not applicable
(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):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Executive Officer Compensation and Equity Awards
At a meeting of the Compensation Committee of the Board of Directors of Allos Therapeutics, Inc. (the “Company”) held on February 22, 2010, the Compensation Committee (a) determined and approved 2009 cash bonus awards and 2010 base salaries and target bonus awards (expressed as a percentage of base salary) for the Company’s “named executive officers” (as defined in Item 402(a)(3) of Regulation S-K promulgated by the Securities and Exchange Commission), and (b) granted stock options and restricted stock units to the Company’s named executive officers pursuant to the Company’s 2008 Equity Incentive Plan (the “Plan”). The 2009 cash bonus awards and 2010 base salaries and target bonus awards (expressed as a percentage of base salary) for the named executive officers, and the number of stock options and restricted stock units granted to the named executive officers, are set forth on Exhibit 10.1 attached hereto and incorporated herein by reference.
The stock options and restricted stock units were granted under and in accordance with the terms and conditions of the Plan, which is filed as Exhibit 99.1 to the Company’s Registration Statement on Form S-8 (No. 333-151882). The stock options are exercisable for a term of ten (10) years measured from the date of grant at an exercise price of $7.56, which equals the closing price of the Company’s common stock as quoted on the Nasdaq Global Market on the date of grant. The stock options vest over a four (4) year period, with 25% of such options vesting one (1) year after the date of grant and 75% of such options vesting in equal monthly installments thereafter over the next three (3) years, subject to the named executive officer’s continued employment with the Company through such vesting dates. The form of option grant notice and agreement relating to the stock option awards conforms to the Company’s standard form of option grant notice and agreement approved by the Company’s Board of Directors for use under the Plan, which such standard form of option grant notice and agreement is filed as Exhibit 99.2 to the Company’s Registration Statement on Form S-8 (No. 333-151882). The restricted stock units vest in equal installments on each of the first four (4) anniversaries of the date of grant, subject to the named executive officer’s continued employment with the Company through such vesting dates. The form of restricted stock unit grant notice and agreement conforms to the Company’s standard form of restricted stock unit grant notice and agreement approved by the Company’s Board of Directors for use under the Plan, which such standard form of restricted stock unit grant notice and agreement is filed as Exhibit 10.2 to the Company’s current report on Form 8-K filed on February 27, 2009.
The Compensation Committee also reviewed and approved, at the same meeting, the 2010 corporate and individual performance objectives to be evaluated by the Compensation Committee in connection with the determination of 2010 bonus awards for the named executive officers. The 2010 corporate objectives generally target the achievement of specific sales and marketing, manufacturing, research and development and corporate development milestones that are considered to be important to the achievement of the Company’s long-term strategic goals. The 2010 individual objectives for the named executive officers (other than the Company’s Chief Executive Officer, whose bonus is tied entirely to the achievement of corporate objectives) focus on contributions that are generally consistent with and support the corporate objectives or are otherwise intended to contribute to the success of the Company.
The 2009 cash bonus award and 2010 target bonus award (expressed as a percentage of base salary) for the Company’s Chief Executive Officer, as well as the Company’s 2010 corporate objectives, were also reviewed and approved by the full Board of Directors at a meeting held on February 22 and 23, 2010.
Item 9.01 Financial Statements and Exhibits.
(d) | Exhibits. |
| |
10.1 | Executive Compensation and Equity Awards. |
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SIGNATURES
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.
Dated: February 26, 2010 | |
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| | ALLOS THERAPEUTICS, INC. |
| | |
| | |
| By: | /s/ Marc H. Graboyes |
| | Marc H. Graboyes |
| Its: | Senior Vice President, General Counsel |
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EXHIBIT INDEX
Exhibit No. | | Description |
| | |
10.1 | | Executive Compensation and Equity Awards. |
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