Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
NGEN > SEC Filings for NGEN > Form 8-K on 21-Aug-2008All Recent SEC Filings

Show all filings for NANOGEN INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for NANOGEN INC


21-Aug-2008

Change in Directors or Principal Officers, Other Events


Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
          Officers


On August 18, 2008, the following stock option awards with performance-based
vesting approved by the Compensation Committee of the Board of Directors of
Nanogen, Inc. (the "Company" or "Nanogen") under the Company's 1997 Stock
Incentive Plan, as amended (the "Plan") became effective:



                                                                            # of Option
Name and Principal Position                                                   Shares
Howard C. Birndorf - Chief Executive Officer and Chairman                     1,000,000

David G. Ludvigson - President and Chief Operating Officer                      750,000

Nicholas Venuto - Chief Financial Officer                                       225,000

William L. Respess - Senior Vice President, General Counsel and Secretary       150,000

Graham Lidgard - Senior Vice President, Research and Development                300,000

The exercise price per share of each option grant is $0.351, the closing price per share of the Company's common stock on the effective date of the grants. 50% of the option shares will vest and become exercisable upon the closing of the share exchange transaction (the "Share Exchange") contemplated by the Share Exchange Agreement (the "Share Exchange Agreement"), dated August 14, 2008, among Company, Financiére Elitech S.A.S. ("Elitech"), and the stockholders of Elitech, or if Nanogen has terminated the Share Exchange Agreement pursuant to
Section 8(a)(iii)(C) thereof, upon the closing of the transaction contemplated by a Superior Proposal (as defined in the Share Exchange Agreement) (together with the Share Exchange, a "Change in Control Transaction") which was the basis for Nanogen's exercise of its termination right; provided the executive officer continues to be employed by the Company through the closing date of the Change in Control Transaction. The remaining 50% of the option shares will vest and become exercisable upon the executive officer's completion of a one-year period of employment measured from the closing date of the Change in Control Transaction. In the event a Change in Control Transaction is not consummated prior to June 30, 2009, the option shares will terminate and cease to be outstanding. In addition, each vested option share will terminate and cease to be outstanding on August 17, 2019 or earlier if the executive officer ceases to be employed by the Company for any reason or no reason prior to such date.

A description of the Share Exchange Agreement is contained in, and a copy of the Share Exchange Agreement was included as an exhibit to, the Form 8-K filed by the Company with the Securities and Exchange Commission on August 15, 2008.



Item 8.01 Other Events.

The disclosure set forth in Item 5.02 above is incorporated by reference to this Item 8.01.


ADDITIONAL INFORMATION

The proposed share exchange transaction will be submitted to the stockholders of Nanogen for their consideration, and Nanogen will file a registration statement, a proxy statement/prospectus and other relevant documents concerning the proposed transaction with the SEC. Shareholders are urged to read the registration statement and the proxy statement/prospectus regarding the proposed share exchange transaction when it becomes available and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they will contain important information. You will be able to obtain a free copy of the proxy statement/prospectus, as well as other filings containing information about Nanogen, at the SEC's Internet site (http://www.sec.gov). You will also be able to obtain these documents, free of charge, at Nanogen's website (http://www.nanogen.com). Copies of the proxy statement/prospectus and the SEC filings that will be incorporated by reference in the proxy statement/prospectus can also be obtained, without charge, by directing a request to: Investor Relations at 858-410-4600 or via email to:
info@nanogen.com.

Nanogen, and its directors and executive officers, may be deemed to be participants in the solicitation of proxies from the stockholders of Nanogen in connection with the proposed share exchange transaction. Information about the directors and executive officers of Nanogen and their ownership of Nanogen common stock is set forth in the proxy statement, dated May 13, 2008, for Nanogen's annual meeting of stockholders, as filed with the SEC on a Schedule 14, and in Nanogen's annual report on Form 10-K, as amended on Form 10-K/A, filed with the SEC on March 31, 2008 and April 29, 2008, respectively. Additional information regarding the interests of those participants and other persons who may be deemed participants in the share exchange transaction may be obtained by reading the proxy statement /prospectus regarding the proposed share exchange transaction when it becomes available. You may obtain free copies of these documents as described in the preceding paragraph.

  Add NGEN to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for NGEN - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2008 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.