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

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
ALKS > SEC Filings for ALKS > Form 8-K on 9-Dec-2013All Recent SEC Filings

Show all filings for ALKERMES PLC.

Form 8-K for ALKERMES PLC.


9-Dec-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 December 5, 2013, the Compensation Committee of the Board of Directors (the "Committee") of Alkermes plc (the "Company") approved the Alkermes plc Affiliated Company Fiscal Year 2014 Reporting Officer Performance Pay Plan (the "Plan") and established performance pay awards that may be earned for the Company's 2014 fiscal year (January 1, 2014 to December 31, 2014) by the Company's reporting officers. The Company's reporting officers under the Plan are currently: the (1) Chief Executive Officer and Chairman of the Board of Directors, (2) President, (3) Senior Vice President, Chief Financial Officer and Treasurer, (4) Senior Vice President, Corporate Development, (5) Senior Vice President, Chief Legal Officer, Chief Compliance Officer, and Secretary,
(6) Senior Vice President, Research and Development and Chief Medical Officer,
(7) Senior Vice President, Chief Operating Officer and Chief Risk Officer,
(8) Senior Vice President, Chief Commercial Officer and (9) Senior Vice President, Corporate Communications (each a "Participant"). The performance awards will be paid based on the achievement of Company objectives and the individual performance of the Participants, as determined by the Committee. The Committee set the following as Company objectives under the Plan for fiscal year 2014: (1) Complete phase 3 clinical trial of Aripiprazole Lauroxil and submit NDA; (2) Execute on development plans for pipeline products; (3) Execute commercial plan and prepare for new product launch; (4) Achieve financial guidance; (5) Further develop infrastructure and resources to support Company growth; (6) Manufacture commercial products and clinical trial material to meet our goals of quality, reliability, and efficiency; (7) Manage relationships with key business partners and evaluate new business opportunities to drive long-term growth and enhance shareholder value; and (8) Respond to changing business conditions (together, the "Performance Objectives").

These Performance Objectives serve as the performance objectives for each Participant. The Committee reserves the right to modify the Plan, Performance Objectives or overall payouts under the Plan at any time during the course of the fiscal year, including in response to changing business goals, needs and operations. To be eligible to participate in the Plan, Participants must be actively employed by the Company at the time awards are paid by the Company. The performance awards will be paid within two and one-half months after the end of the Company's 2014 fiscal year. The Plan is filed with this report as Exhibit 10.1.

For each Participant, the Committee established a performance pay range and target as a percentage of such Participant's base salary based generally on comparable market data. The Committee set the range of the fiscal year 2014 performance pay award under the Plan for Richard F. Pops, the Company's Chief Executive Officer and Chairman of the Board of Directors, at between 0% and 200% of base salary, with a target performance pay award of 100% of base salary. The Committee set the range of the fiscal year 2014 performance pay award under the Plan for the Company's President, Shane Cooke, at between 0% and 150% of base salary, with a target performance pay award of 75% of base salary. The Committee set the range of the fiscal year 2014 performance pay awards under the Plan for Participants other than the President and Chief Executive Officer and Chairman of the Board of Directors at between 0% and 100% of base salary, with a target performance pay award of 50% of base salary.



Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit
No.                                       Description
10.1           Alkermes plc Affiliated Company Fiscal Year 2014 Reporting Officer
               Performance Pay Plan


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