SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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): July 25, 2005
ALKERMES, INC.
(Exact Name of Registrant as Specified in its Charter)
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| PENNSYLVANIA
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1-14131
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23-2472830 |
(State or Other Jurisdiction
of Incorporation)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.) |
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88 Sidney Street
Cambridge, Massachusetts
(Address of principal executive offices)
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02139
(Zip Code) |
Registrant’s telephone number, including area code: (617) 494-0171
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)) |
TABLE OF CONTENTS
Item 1.01 Entry into a Material Definitive Agreement
On July 25 2005, the Compensation Committee of the Board of Directors of Alkermes, Inc.
approved the Alkermes January 1, 2005 to March 31, 2006 Named Executive Bonus Plan (the “Bonus
Plan”) and established bonus awards that may be earned for the period January 1, 2005 to March 31,
2006 under the Bonus Plan by the Company’s named executive officers, currently Alkermes’ Chief
Executive Officer (“CEO”), President and Chief Operating Officer (“COO”), Vice President and Chief
Financial Officer (“CFO”), Vice President Corporate Development (“VP CD”), and Vice President,
General Counsel and Secretary (“GC”) (each a “Participant”). The size of the overall bonus pool
shall be determined by the Compensation Committee based on Company performance against the Bonus
Plan objectives and target bonuses. Target bonus ranges determined by the Compensation Committee
are 25% to 100% of base salary for the CEO, COO and CFO and 15% to 50% of base salary for the VP CD
and GC. The bonuses will be paid based on the achievement of Company
objectives and individual performance. Individual performance of the Participants shall be determined by the
Compensation Committee. The performance period under the Bonus Plan will consist, on a one time
basis, of the period from January 1, 2005 to March 31, 2006 in order to align the bonus performance
period, which has historically been a calendar year, with the Company’s fiscal year end of March
31.
The Bonus Plan is filed with this report as Exhibit 10.1.
Item 9.01. Financial Statements and Exhibits.
(a) Financial Statements of Businesses Acquired.
Not applicable.
(b) Pro Forma Financial Information.
Not applicable.
(c) Exhibits.
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| Exhibit |
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Description |
10.1
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Alkermes January 1, 2005 to March 31, 2006 Named Executive Bonus
Plan |