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BGMD > SEC Filings for BGMD > Form 8-K on 18-Dec-2013All Recent SEC Filings

Show all filings for BG MEDICINE, INC.

Form 8-K for BG MEDICINE, INC.


18-Dec-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.

(e) On December 17, 2013, the Board of Directors (the "Board") of BG Medicine, Inc. (the "Company") approved a change to Stephane Bancel's position within the Company from Executive Chairman to Chairman, effective as of November 1, 2013. In connection with this change, the Compensation Committee of the Board of the Company terminated Mr. Bancel's consulting agreement with the Company, pursuant to which Mr. Bancel had been entitled to receive the equivalent of up to $150,000 per year in stock options for his service as Executive Chairman. Accordingly, as of November 1, 2013, Mr. Bancel (i) ceased vesting in the stock option that was granted to him on July 25, 2011 when he became Executive Chairman, the vesting of which was contingent upon him serving as Executive Chairman, and (ii) ceased receiving all other compensation set forth in his consulting agreement. In lieu thereof, effective as of November 1, 2013, Mr. Bancel became eligible to receive compensation under the Company's non-employee director compensation policy.


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