Form 8-K

 

 

UNITED STATES

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): February 7, 2012

 

 

ACELRX PHARMACEUTICALS, INC.

(Exact name of registrant as specified in its charter)

 

 

 

DELAWARE   001-35068   41-2193603
(State of incorporation)  

(Commission

File No.)

 

(IRS Employer

Identification No.)

575 Chesapeake Drive

Redwood City, CA 94063

(Address of principal executive offices and zip code)

Registrant’s telephone number, including area code: (650) 216-3500

 

 

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):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ 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.

2012 Base Salaries

On February 7, 2012 and February 13, 2012, the Board of Directors (the “Board”) of AcelRx Pharmaceuticals, Inc. (the “Company”) approved the 2012 base salaries (effective retroactively to January 1, 2012) for certain of the Company’s named executive officers (as defined in Item 402(a)(3) of Regulation S-K promulgated by the Securities and Exchange Commission, the “NEOs”) in the amounts set forth in the table below.

 

Named Executive Officer    2012 Base Salary  

Richard A. King, Chief Executive Officer

   $ 426,006   

James H. Welch, Chief Financial Officer

   $ 299,000   

Pamela P. Palmer, M.D., Ph.D., Chief Medical Officer

   $ 396,550   

Lawrence G. Hamel, Chief Development Officer

   $ 292,800   

Badri Dasu, Chief Engineering Officer

   $ 278,000   

Bonus Payments

On February 7, 2012 and February 13, 2012, the Board approved bonus payments for 2011 performance for certain of the NEOs in the amount set forth in the table below, in accordance with the Company’s established 2011 Cash Bonus Plan.

 

Named Executive Officer    2011 Bonus  

Richard A. King, Chief Executive Officer

   $ 100,842   

James H. Welch, Chief Financial Officer

   $ 67,425   

Pamela P. Palmer, M.D., Ph.D., Chief Medical Officer

   $ 89,513   

Lawrence G. Hamel, Chief Development Officer

   $ 70,892   

Badri Dasu, Chief Engineering Officer

   $ 59,645   


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.

 

Date: February 13, 2012   ACELRX PHARMACEUTICALS, INC.
  By:  

/s/ James H. Welch

    James H. Welch
    Chief Financial Officer