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

On September 25, 2009, an option grant to Thomas J. Shaw, the Company's founder, President, and Chief Executive Officer, to purchase 3,000,000 shares of Common Stock of Retractable Technologies, Inc. (the "Company") was approved pursuant to a vote by the holders of the Common Stock present in person or by proxy at the Annual Meeting of the Company.

The option will vest on July 15, 2010 and terminates on July 15, 2019. The exercise price of the option was 100% of the fair market value on the date of grant which was $0.81. This option was granted outside of any stock option plan but contains similar terms and conditions as those set forth under the 2008 Stock Option Plan, with the exception that this option terminates after 10 years and not five years from the date of grant. In the event of death, disability or termination (otherwise than for cause), the vested portion of the option will terminate 12 months after such event. The non-vested portion shall automatically terminate upon the happening of any of such events. In the event of termination for cause, the option shall terminate immediately. The grant date fair value is $1,762,500 based on the Black-Scholes valuation model. As of September 25, 2009, the market value for 3,000,000 shares of Common Stock calculated by multiplying the closing price ($1.62) by 3,000,000 shares was $4,860,000.