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CBST > SEC Filings for CBST > Form 8-K on 21-Feb-2014All 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 February 14, 2014, the Compensation Committee of the Board of Directors of Cubist Pharmaceuticals, Inc. (the "Company") approved an amended and restated Short-Term Incentive Plan ("STI Plan"), effective as of January 1, 2014. The STI Plan covers our executive officers, excluding our Chief Executive Officer and the next three most highly compensated executives other than our Chief Financial Officer. The STI Plan was amended to: (i) provide that all plan awards for a performance period will be forfeited if the Company fails to achieve at least 80% of the applicable revenue goal for the performance period and (ii) clarify that the plan administrator retains the discretion to reduce, increase or eliminate any plan award in accordance with its assessment of corporate and individual goal achievement.

This summary of the amendment to the STI Plan is qualified in its entirety by reference to the STI Plan, a copy of which will be filed with the Company's Annual Report on Form 10-K for the year ending December 31, 2013 and which is incorporated herein by reference to this Current Report on Form 8-K.

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