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PPHM > SEC Filings for PPHM > Form 8-K on 18-Oct-2012All Recent SEC Filings

Show all filings for PEREGRINE PHARMACEUTICALS INC

Form 8-K for PEREGRINE PHARMACEUTICALS INC


18-Oct-2012

Change in Directors or Principal Officers, Submission of Matters to


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

(e) Compensatory Arrangements of Certain Officers.

On October 18, 2012, at the 2012 Annual Meeting of Stockholders (the "Annual Meeting") of Peregrine Pharmaceuticals, Inc. (the "Company"), the Company's stockholders approved an amendment (the "First Amendment") to the Company's 2011 Stock Incentive Plan (the "2011 Plan") to increase by 8,000,000 shares the number of shares of the Company's common stock reserved for issuance under the 2011 Plan to a total of 11,500,000 shares, and to effect certain other changes to the 2011 Plan as follows:

increasing the maximum number of shares of the Company's common stock that may be granted to a participant, who is a covered employee, during any fiscal year with respect to one or more awards, to 500,000 shares; and

increasing the maximum amount of any performance-based award that may be granted to a covered employee during any performance period to 500,000 shares or the equivalent cash value.

The First Amendment previously had been approved by the Compensation Committee of the Company's Board of Directors (the "Board") on August 13, 2012, subject to stockholder approval. The First Amendment became effective immediately upon stockholder approval at the Annual Meeting.

Persons eligible to participate in the 2011 Plan, as amended by the First Amendment, will continue to include all employees, officers, non-employee directors of, and consultants to, the Company or an affiliate, as determined by the Board.

This summary of the First Amendment is qualified in its entirety by reference to the full text of the First Amendment, a copy of which is attached as Exhibit A to the Company's Definitive Proxy Statement for its 2012 Annual Stockholders Meeting filed with the Securities and Exchange Commission on August 27, 2012 and incorporated herein by this reference. In addition, a more detailed summary of the 2011 Plan, as amended by the First Amendment, can be found in such Definitive Proxy Statement.



Item 5.07 Submission of Matters to a Vote of Security Holders.

The Company held its 2012 Annual Meeting on October 18, 2012. Out of 104,191,176 shares of our Common Stock (as of the record date of August 22, 2012) entitled to vote at the Annual Meeting, there were 85,593,714 shares present in person or represented by proxy, representing 82% of the total outstanding shares of our Common Stock entitled to vote. At the Annual Meeting, the Company's stockholders voted on each of the following four proposals. The final voting results of each proposal are set forth below.

Proposal No. 1: Election of Directors

The Company's stockholders elected each of the four nominees named below to serve on the Company's Board of Directors until the Company's 2013 Annual Meeting of Stockholders. The votes were as follows:

Nominee                   Votes For    Votes Withheld   Broker Non-Votes
Carlton M. Johnson, Jr.   39,804,269     5,411,347         40,378,098
Steven W. King            40,238,939     4,976,677         40,378,098
David H. Pohl             39,107,491     6,108,125         40,378,098
Eric S. Swartz            39,677,323     5,538,293         40,378,098

Proposal No. 2: Ratification of Independent Registered Public Accounting Firm

The Company's stockholders approved the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for fiscal year ending April 30, 2013. The votes were as follows:

Votes For Votes Against Abstain
82,278,180 2,192,371 1,123,163

Proposal No. 3: To Approve an Amendment to the Company's 2011 Stock Incentive Plan

The Company's stockholders approved an amendment to the Company's 2011 Stock Incentive Plan. The votes were as follows:

Votes For Votes Against Abstain Broker Non-Votes 36,341,756 8,171,085 702,775 40,378,098

Proposal No. 4: To Approve, On an Advisory Basis, the Compensation of the Named Executive Officers

The Company's stockholders approved, on an advisory basis, the compensation of the named executive officers as disclosed in the Company's Definitive Proxy Statement for its 2012 Annual Stockholders Meeting. The votes were as follows:

Votes For Votes Against Abstain Broker Non-Votes 27,501,304 16,606,433 1,107,879 40,378,098

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