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CYTK > SEC Filings for CYTK > Form 8-K on 27-Feb-2014All Recent SEC Filings

Show all filings for CYTOKINETICS INC



Change in Directors or Principal Officers, Financial Statements and Exhibits

Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

(e) On February 24, 2014, the Compensation & Talent Committee of the Board of Directors (the "Committee") of Cytokinetics, Incorporated (the "Company") determined that the Company met 90% of its corporate goals for 2013. This determination was based on progress in the advancement of the Company's skeletal and cardiac muscle R&D programs and the achievement of Business Development goals. The Committee also considered progress against objectives related to financial management and other research activities.

Also on February 24, 2014, the Committee voted to approve salary increases and the payment of a cash bonus for the Company's named executive officers (as defined in Item 402(a)(3) of Regulation S-K promulgated by the Securities and Exchange Commission) in connection with the performance of the Company and such officers for the fiscal year ended December 31, 2013. The bonus payments to the named executive officers were based on the individual executive's performance relative to his or her specified goals, the Company's performance relative to specified corporate goals, and other factors, including each executive's compensation relative to the Company's peer companies. In addition, the Committee exercised its discretion in determining each individual's overall achievement level. The salary increases for our named executive officers, which are effective as of March 1, 2014, were based on a review of each officer's respective 2013 performance relative to both the Company's and the individual's goals, the role each executive is expected to play in 2014, competitive salary data provided by third-party executive compensation consultants, and other factors.

The 2014 base salaries, 2014 target cash bonus amounts and cash bonus payments for 2013 performance for each of our named executive officers are listed in Exhibit 10.1 attached hereto and incorporated herein by reference.

Additional information regarding compensation of the named executive officers, including the factors considered by the Committee in determining compensation, will be included in the Company's proxy statement for its 2014 Annual Meeting.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

  Number    Description

   10.1     Compensation Information for the Company's Named Executive Officers.

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