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| PMC > SEC Filings for PMC > Form 8-K on 15-Jan-2013 | All Recent SEC Filings |
15-Jan-2013
Change in Directors or Principal Officers, Other Events, Financial Statements and
On January 14, 2013, the Board of Directors of PharMerica Corporation (the "Company"), upon the recommendation of the Nominating and Governance Committee, appointed Patrick G. LePore as a new director effective as of January 14, 2013. There was no arrangement or understanding between Mr. LePore and any other persons pursuant to which Mr. LePore was selected as a director and there are no related person transactions between Mr. LePore and the Company. The Board has determined that Mr. LePore is independent for purposes of the Board of Directors under the applicable rules of the Securities and Exchange Commission and the New York Stock Exchange.
The Board of Directors has approved an initial grant of restricted stock units to Mr. LePore under the Company's Amended and Restated 2007 Omnibus Incentive Plan with a fair market value of $90,000 as of January 14, 2013.
In addition to the foregoing, Mr. LePore will receive the standard compensation provided to the Company's non-employee directors. Each non-employee director receives an annual retainer of $50,000. Non-employee directors receive $2,000 for each meeting of the Board that they attend. Each non-employee director also receives an annual award of restricted stock valued at $90,000. Mr. LePore's' initial annual retainer will be pro-rated for his period of service from the date of his appointment through the 2013 annual meeting of stockholders.
The Company has also entered into its standard director indemnification agreement with Mr. LePore.
On January 14, 2013, the Company issued a press release announcing the appointment of Patrick G. LePore as a new director. A copy of the press release is filed and attached hereto as Exhibit 99.1 and incorporated by reference.
(d) Exhibits
Exhibit No. Description
99.1 Press Release of the Company, dated January 14, 2013
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