California (State or other jurisdiction of incorporation) |
000-28402 (Commission File Number) |
94-3133088 (I.R.S. Employer Identification No.) |
3929 Point Eden Way, Hayward, CA (Address of principal executive offices) |
94545 (Zip Code) |
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
| Of the $50,000 annual retainer payable to the Chairman of the Board (Virgil D. Thompson), $25,000 shall be paid in cash and $25,000 shall be paid in shares of Common Stock, which Common Stock shall vest in equal quarterly installments over one year and is valued based upon the closing price of Common Stock on the date of such Board approval. | ||
| Of the $30,000 annual retainer payable to each other non-employee director (Frank H. Barker and John M. Siebert), $15,000 shall be paid in cash and $15,000 shall be paid in shares of Common Stock, which Common Stock shall vest in equal quarterly installments over one year and is valued based upon the closing price of Common Stock on the date of such Board approval. | ||
| An increase in the number of shares of Common Stock underlying the annual stock option award granted to the Chairman of the Board (Virgil D. Thompson) upon re-election to the Board from 35,000 shares to 200,000 shares, which option shall vest in equal quarterly installments over one year. | ||
| An increase in the number of shares of Common Stock underlying the annual stock option award granted to each other non-employee director (Frank H. Barker and John M. Siebert) upon re-election to the Board from 20,000 shares to 200,000 shares, which option shall vest in equal quarterly installments over one year. |
Item 9.01 | Financial Statements and Exhibits. |
Exhibit | Description | |
10.1
|
Aradigm Corporation Employee Stock Purchase Plan, as amended |
2
ARADIGM CORPORATION |
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Dated: May 21, 2009 | By: | /s/ D. Jeffery Grimes | ||
Name: | D. Jeffery Grimes | |||
Title: | Vice President of Legal Affairs, General Counsel and Secretary |
3
Exhibit | Description | |
10.1
|
Aradigm Corporation Employee Stock Purchase Plan, as amended |
4