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MDVN > SEC Filings for MDVN > Form 8-K on 29-Apr-2013All Recent SEC Filings

Show all filings for MEDIVATION, INC. | Request a Trial to NEW EDGAR Online Pro



Change in Directors or Principal Officers, Financial Statements and Exhibits

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

On April 26, 2013, Wendy L. Yarno was elected by the board of directors (the "Board") of Medivation, Inc. as a member of the Board. In addition, in connection with her election, Mr. Yarno was appointed to be a member of the Compensation Committee, including as its chairperson, and to the Nominating and Corporate Governance Committee, of the Board.

Under the current standard compensation arrangements for outside directors of Medivation, Ms. Yarno, will be entitled to receive the following compensation:

1. An annual Board cash retainer of $50,000;

2. An initial stock option grant of 15,000 shares, to vest over four years with 25% vesting after one year and then monthly thereafter over the remaining three years, with an exercise price equal to the closing price of Medivation common stock on the date of grant;

3. An initial restricted stock unit grant of 7,500 shares, to vest over three years with 1/3 of the shares vesting on May 3 of each of 2014, 2015 and 2016; and

4. An additional annual equity grant each year with a value equal to $350,000, split equally between stock options and restricted stock units, both with a one year vesting period and with the exercise price of the option equal to the closing price of Medivation common stock on the date of grant.

In addition, Ms. Yarno will be entitled to additional compensation as a member and chairperson of the Compensation Committee, and a member of the Nominating and Corporate Governance Committee, as set forth on Exhibit 10.1 to this Form 8-K.

Item 9.01. Financial Statements and Exhibits.

Exhibit No. Description

10.1 Compensation Information for Non-Employee Directors

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