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

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
CBMX > SEC Filings for CBMX > Form 8-K on 17-Jul-2013All Recent SEC Filings

Show all filings for COMBIMATRIX CORP

Form 8-K for COMBIMATRIX CORP


17-Jul-2013

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 July 15, 2013, the Board of Directors (the "Board") of CombiMatrix Corporation (the "Company") appointed Robert E. Hoffman to the Board to fill an existing vacancy.

Robert E. Hoffman, 47, is the Senior Vice President, Finance and Chief Financial Officer of Arena Pharmaceuticals, Inc., a publicly traded biopharmaceutical company, where he has served in various finance and accounting roles since 1997, except that from March 2011 to August 2011, Mr. Hoffman served as Chief Financial Officer for Polaris Group, a privately held drug development company. Mr. Hoffman is a member of the business and financial advisory board of Innovus Pharmaceuticals, a publicly traded emerging pharmaceuticals company. Mr. Hoffman also serves as a member of the Financial Accounting Standards Board's Small Business Advisory Committee and the steering committee of the Association of Bioscience Financial Officers. Mr. Hoffman is also a member and a former director and President of the San Diego Chapter of Financial Executives International. Mr. Hoffman holds a bachelor's degree in business administration from St. Bonaventure University, and is licensed as a C.P.A. (inactive) in the State of California.

Pursuant to the Company's 2006 Stock Incentive Plan, as amended, Mr. Hoffman received a non-discretionary initial grant of options to purchase 2,000 shares of the Company's common stock upon joining the Board. On the first business day of each calendar year, each non-employee Board member then in office is automatically granted additional options to purchase 2,000 shares of the Company's common stock, provided such individual has served as a non-employee Board member for at least six months. All such grants are granted at an exercise price equal to the closing market price of the Company's common stock on the date of grant. The options vest in four equal annual installments over a 48-month period measured from the grant date.

Pursuant to the Company's director cash compensation policy, Mr. Hoffman will receive $1,500 per month for his service as a member of the Board, as well as $1,000 for each meeting of the Board attended in person, $1,000 for each meeting attended by telephone that was longer than one hour in length, and $500 for each meeting attended by telephone if the meeting was one hour or less in length. Mr. Hoffman will also be reimbursed for expenses incurred in connection with attendance at meetings of the Board and committees of the Board and in connection with his performance of Board duties. The Company and Mr. Hoffman also entered into the Company's standard director indemnification agreement.

The Company's Board has determined that Mr. Hoffman is independent under the rules of the Nasdaq Stock Market and that, therefore, a majority of the Company's Board is now comprised of independent directors.



Item 9.01. Financial Statements and Exhibits.

(a) Financial Statements of Businesses Acquired.

Not applicable.

(b) Pro Forma Financial Information.

Not applicable.

(c) Shell Company Transactions.

Not applicable.

(d) Exhibits.

Exhibit No. Description of Exhibit

99.1 Press Release of CombiMatrix Corporation dated July 17, 2013.


  Add CBMX to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for CBMX - All Recent SEC Filings
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.