Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
ABIO > SEC Filings for ABIO > Form 8-K on 18-Jun-2013All Recent SEC Filings

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

Form 8-K for ARCA BIOPHARMA, INC.


18-Jun-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.

Bonuses, Base Salaries and Restoration of Severance

On June 13, 2013, the Board of Directors (the "Board") of ARCA biopharma, Inc. (the "Company"), upon the recommendation of the Compensation Committee (the "Committee") of the Board, approved cash bonuses (the "Bonuses") for each of the executive officers of the Company in the amounts, set forth below, payable on or around June 28, 2013. The Board also approved, upon the recommendation of the Committee, the base salaries for the Company's "named executive officers" (as defined in Item 402(a)(3) of Regulation S-K promulgated by the Securities and Exchange Commission), in each case as set forth below.

                                                    2013
       Name and Title                            Cash Bonus       Base Salary
       Michael R. Bristow
       President and Chief Executive Officer    $     70,000     $     272,950
       Patrick M. Wheeler
       Chief Financial Officer                  $     60,000     $     265,000
       Christopher D. Ozeroff
       Senior Vice President, General Counsel   $     35,000     $     266,770

The Board, upon the recommendation of the Committee, determined the Bonuses are to be paid in recognition of the past efforts of each of the executives and, in the case of Dr. Bristow and Mr. Ozeroff, increased the salaries to levels that were in place prior to the executive officers' voluntary salary reductions which were implemented to save the Company's available capital. In the case of Mr. Wheeler, in addition to the increase of his salary to the level that was in place prior to the executive officers' voluntary salary reductions which were implemented to save the Company's available capital, his salary was increased by an additional $43,550. The new base salaries will become effective on June 24, 2013.

The Board, upon the recommendation of the Committee, also approved the grant of severance packages for Dr. Bristow, Mr. Wheeler and Mr. Ozeroff which would require the Company to make severance payments, in an amount equal to 6 months of their respective base salaries, to each of the foregoing executive officers of the Company in the event their employment is terminated under certain situations.


  Add ABIO to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for ABIO - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.