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OCLS > SEC Filings for OCLS > Form 8-K on 24-Sep-2013All Recent SEC Filings




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.

On September 19, 2013, the Compensation Committee (the "Committee") of Oculus Innovative Sciences, Inc. (the "Company") approved stock option awards to certain directors and officers of the Company and to an officer of its wholly owned subsidiary, Ruthigen, Inc. Each grant was made pursuant to the Company's stock incentive plans and issued at an exercise price equal to the closing price of the common stock on the date of grant. All grants vest quarterly over a three year vesting schedule commencing on the date of grant.

Messrs. Jay Birnbaum, Richard Conley, and Greg French were each respectively granted 8,027 options as compensation for service on the Company's Board of Directors. Mr. Jerry McLaughlin was granted 5,351 options as compensation for his service on the Company's Board of Directors. The award to Mr. McLaughlin was prorated because he has served on the Company's Board less than a year.

Robert Miller, the Company's Chief Financial Officer, was granted 26,756 options pursuant to the Company's 2013 Bonus Plan in lieu of cash. Sameer Harish, Chief Financial Officer of the Company's wholly owned subsidiary, Ruthigen, Inc., was granted 5,351 options pursuant to the Company's 2013 Bonus Plan in lieu of cash.

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