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SNMX > SEC Filings for SNMX > Form 8-K on 17-Apr-2013All Recent SEC Filings

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Form 8-K for SENOMYX INC


17-Apr-2013

Change in Directors or Principal Officers


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

(e)

2013 Named Executive Officer Stock Option Grants

On April 11, 2013, the Compensation Committee of our Board of Directors approved the grant of additional stock options for our executive officers. The total number of stock options granted to each individual was determined in part based on the Compensation Committee's evaluation of the company's performance against 2012 corporate goals, as well as each executive officer's individual performance, competencies and impact to the organization during the prior year. The following table sets forth the number of shares underlying the stock option grants for our named executive officers:

Name                                            Title                      Stock Options
Kent Snyder                    Chief Executive Officer and Chairman of
                               the Board                                         335,000
John Poyhonen                  President and Chief Operating Officer             205,000
David B. Berger                Senior Vice President, General Counsel
                               and Corporate Secretary                           105,000
Donald S. Karanewsky, Ph.D.    Senior Vice President and Chief
                               Scientific Officer                                105,000
Antony E. Rogers               Senior Vice President and Chief
                               Financial Officer                                 105,000

The stock options described above (i) were granted effective as of April 15, 2013 pursuant to our 2004 Equity Incentive Plan, (ii) terminate ten years after April 15, 2013 or earlier in the event the option holder's service to us is terminated and (iii) have an exercise price per share of $2.11, equal to the closing price of our common stock as reported on the Nasdaq Stock Market on April 12, 2013. Subject to the option holder's continued service to us, 25% of the shares of common stock subject to such stock options vest on the first anniversary of the date of grant, and the remaining shares vest monthly over the following three years; subject to suspension of vesting during periods of certain extended leaves.


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