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VVUS > SEC Filings for VVUS > Form 8-K on 24-Jan-2014All Recent SEC Filings

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Form 8-K for VIVUS INC


24-Jan-2014

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 January 22, 2014, the Compensation Committee of the Board of Directors of VIVUS, Inc., or the Company, authorized and approved the grant of restricted stock unit awards under the Company's 2010 Equity Incentive Plan to certain of the Company's employees including Svai Sanford, the Company's interim Chief Financial Officer, Principal Accounting Officer, Guy P. Marsh, the Company's Vice President, U.S. Operations and General Manager, Wesley W. Day, Ph.D., the Company's Vice President, Clinical Development, and John L. Slebir, the Company's Vice President, Business Development and General Counsel. The following table sets forth the specific restricted stock unit awards authorized and approved for each of Messrs. Sanford, Marsh and Slebir and Dr. Day:

Name                   Restricted Stock Unit Awards(1)
Svai Sanford                                    30,000
Guy P. Marsh                                    10,000
Wesley W. Day, Ph.D.                            30,000
John L. Slebir                                  35,000



(1) Each restricted stock unit award will vest pursuant to the following 18 month schedule commencing on January 1, 2014, or the Vesting Commencement Date:
20% of the restricted stock units subject to the restricted stock unit award shall vest on the six month anniversary of the Vesting Commencement Date, 20% of the restricted stock units subject to the restricted stock unit award shall vest on the 12 month anniversary of the Vesting Commencement Date and 60% of the restricted stock units subject to the restricted stock unit award shall vest on the 18 month anniversary of the Vesting Commencement Date, subject to such individual continuing to be a full time employee of the Company on each such date.


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