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MSLP > SEC Filings for MSLP > Form 8-K on 5-Jul-2013All Recent SEC Filings

Show all filings for MUSCLEPHARM CORP

Form 8-K for MUSCLEPHARM CORP


5-Jul-2013

Unregistered Sale of Equity Securities, Change in Directors or Principal Officer


ITEM 3.02 UNREGISTERED SALES OF EQUITY SECURITIES

The information set forth in Item 5.02 is incorporated by reference into Item 1.01 and Item 3.02.



ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS

On June 25, 2013, the board of directors ("Board") of MusclePharm Corporation (the "Company") approved restricted stock grants (the "Restricted Stock") to certain key employees, including named executive officers and directors, conditioned upon the execution and delivery of certain restricted stock agreement between the Company and such employees, officers and directors (the "Restricted Stock Agreements"). The Restricted Stock Agreements were executed and delivered by the parties on July 5, 2013. The Board approved Restricted Stock grants of the Company's common stock in the aggregate amount of 1,550,000 shares and also issued shares of the Company's restricted stock to the following named executive officers and directors in the following amounts:

Name                                        Title                      Number of Shares of Restricted Stock
Brad J. Pyatt              Co-Chairman, CEO and President                                            350,000
L. Gary Davis              Chief Financial Officer                                                   200,000
John H. Bluher             Co-Chairman and Executive Vice President                                  150,000
Richard Estalella          Chief Operating Officer                                                   100,000
Jeremy R. DeLuca           Executive Vice President - Chief
                           Marketing Officer                                                         225,000
Cory J. Gregory            Executive Vice President                                                  150,000
Michael Doron              Director                                                                   25,000
James Greenwell            Director                                                                   25,000
Donald W. Prosser          Director                                                                   25,000

The Pursuant to the Restricted Stock agreements, forms of which are attached hereto as Exhibits 10.1 10.2, 10.3 and 10.4, seventeen percent (17%) of each individual grant shall vest on December 31, 2013, and the remaining 83% shall vest on December 31, 2015. The grants for all will vest immediately upon (i) a change of control, and are subject to, such executive and/or employees continued employment, and in the case of any director, such director's continued service on the Board, and (ii) an employee, who has an entered into an employment agreement with the Company, serving the duration of the term of such employment agreement in accordance with its terms.



ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits.

The exhibit listed in the following Exhibit Index is filed as part of this Current Report on Form 8-K.

Exhibit No. Description

10.1 Form of Restricted Stock Agreement (17%) for employees with employment agreement
10.2 Form of Restricted Stock Agreement (17%) for employees without employment agreements
10.3 Form of Restricted Stock Agreement (83%) for employees with employment agreement
10.4 Form of Restricted Stock Agreement (83%) for employees without employment agreements

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