ADMA BIOLOGICS, INC. (NASDAQ:ADMA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02.
|
Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Committee of the Board of Directors (the Compensation
Committee) of ADMA Biologics, Inc. (the Company), the Board of
Directors (the Board) approved the following cash bonuses and
annual incentive awards attributable to 2016 performance for
certain named executive officers of the Company as set forth
below:
|
Name
|
Position
|
Cash Bonus
($)
|
Number of Stock
Options (#)
|
|
Adam S. Grossman
|
President, Chief Executive
Officer and Director
|
$86,250
|
55,000(1)(2)(3)
|
|
Dr. James Mond
|
Executive Vice President,
Chief Scientific Officer
and Chief Medical Officer
|
$55,612
|
22,500(1)(2)(3)
|
|
Brian Lenz
|
Vice President and
Chief Financial Officer
|
$86,556
|
22,500(1)(2)(3)
|
|
(1)
|
Grant date was February 14, 2017.
|
|
(2)
|
The exercise price of $5.00 reflects the per share
fair market value of the Company’s common stock, as determined by the closing price of the Company’s common stock on the NASDAQ Stock Market on February 14, 2017, the grant date. |
|
(3)
|
These options vest over four years with 25% vesting
on the one year anniversary of the date of grant and the remaining 75% vesting monthly in equal installments over the next three years. |
of the Compensation Committee, also approved a three percent (3%)
increase to the annual cash fees paid by the Company to each of
the non-executive members of the Board.
About ADMA BIOLOGICS, INC. (NASDAQ:ADMA)
ADMA Biologics, Inc. is a late-stage biopharmaceutical company that develops, manufactures and intends to market specialty plasma-based biologics for the treatment and prevention of infectious diseases. The Company is engaged in the development and commercialization of human plasma and plasma-derived therapeutics. Its segments include Plasma Collection Centers, which includes its operations in Georgia; Research and Development, which includes its plasma development operations in New Jersey, and Corporate. Its targeted patient populations are immune-compromised individuals suffering from an underlying immune deficiency disorder or may be immune-suppressed for medical reasons. Its product candidates are intended to be used by physician specialists focused on caring for immune-compromised patients at risk of contracting infectious diseases. Its intravenous immunoglobulin product candidate, RI-002, is intended for the treatment of primary immune deficiency disease. ADMA BIOLOGICS, INC. (NASDAQ:ADMA) Recent Trading Information
ADMA BIOLOGICS, INC. (NASDAQ:ADMA) closed its last trading session down -0.03 at 4.94 with 22,111 shares trading hands.