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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 15, 2010
ROCKWELL MEDICAL TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
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Michigan
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000-23661
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38-3317208 |
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(State or other jurisdiction
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(Commission
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(IRS Employer |
of incorporation)
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File Number)
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Identification No.) |
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30142 Wixom Road, Wixom, Michigan |
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48393 |
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(Address of principal executive offices)
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(Zip Code) |
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Registrants telephone number, including area code (248) 960-9009
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b)) |
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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.
On January 15, 2010, the Compensation Committee of the Board of Directors of Rockwell Medical
Technologies, Inc. (the Company) approved salary increases (effective January 16, 2010),
discretionary cash bonuses for 2009 performance and stock option
grants for the Companys executive
officers, as follows:
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New Annual |
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Prior Annual |
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Executive |
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Position |
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Bonus |
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Salary |
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Salary |
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Option Grant |
Robert Chioini |
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Chief Executive Officer |
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116,250 |
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495,000 |
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$ |
465,000 |
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$ |
150,000 |
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Thomas Klema |
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Chief Financial Officer |
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68,750 |
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295,000 |
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275,000 |
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60,000 |
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Dr. Richard Yocum |
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VP Clinical Development |
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58,000 |
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298,000 |
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278,000 |
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75,000 |
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Dr. Ajay Gupta |
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Chief Scientific Officer |
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38,000 |
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348,000 |
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298,000 |
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60,000 |
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The stock options were granted under the Companys 2007 Long Term Incentive Plan using
the Form of Nonqualified Stock Option Agreement (Employee Version)
previously disclosed and filed by the Company
with the Securities and Exchange Commission on Form 8-K on December 20, 2007. The options have an
exercise price of $7.13, the closing market price on January 15,
2010. The options
become exercisable in three equal annual installments beginning January 15, 2011, and the options will become immediately
exercisable upon a change in control of the Company or the recipients death or disability. The options will
expire on January 15, 2020.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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ROCKWELL MEDICAL TECHNOLOGIES, INC.
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Date: January 20, 2010 |
By: |
/s/ Thomas E. Klema
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Thomas E. Klema |
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Its: Chief Financial Officer |
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