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IMMU > SEC Filings for IMMU > Form 8-K on 20-Aug-2014All Recent SEC Filings

Show all filings for IMMUNOMEDICS INC



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.

In connection with its annual review of executive compensation, on August 14, 2014, the Compensation Committee (the "Committee") of the Board of Directors of Immunomedics, Inc., a Delaware corporation (the "Company"), approved the following annual base salaries for the fiscal year ending June 30, 2015 and annual bonus and equity awards for 2014 performance for certain named executive officers of the Company as set forth below:

                                                               Fiscal 2015                             Stock Units           Stock Options
Name                                       Position            Base Salary           Cash Bonus          Awarded                Awarded
Cynthia L. Sullivan                  President and            $     640,560 (1)     $    235,181            105,422 (2)             200,412 (3)
                                     Chief Executive
David M. Goldenberg                  Chief Scientific         $     604,952 (4)     $    286,403            105,422 (2)             200,412 (3)
                                     Officer and
                                     Chief Medical Officer
Peter P. Pfreundschuh                Vice President,          $     300,000 (5)     $     75,000             15,813 (2)              87,895 (3)
                                     Finance and
                                     Chief Financial

(1) Represents approximately a three and one-half percent (3.5%) increase from Ms. Sullivan's fiscal 2014 base salary of $618,898.50.

(2) Restricted stock units granted in accordance with the Company's 2006 Stock Incentive Plan (the "2006 Plan").

(3) Stock options granted in accordance with the 2006 Plan.

(4) Represents approximately a three and one-half percent (3.5%) increase from Dr. Goldenberg's fiscal 2014 base salary of $584,495.17.

(5) Represents approximately a five and one-third percent (5.3%) increase from Mr. Pfreundschuh's fiscal 2014 base salary of $285,000.

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