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): July 11, 2005
DEPOMED, INC.
(Exact name of registrant as specified in its charter)
001-13111
(Commission File Number)
California |
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94-3229046 |
(State or other jurisdiction of |
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(I.R.S. Employer Identification No.) |
incorporation) |
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1360 OBrien Drive, Menlo Park, California 94019
(Address of principal executive offices, with zip code)
(650) 462-5900
(Registrants telephone number, including area code)
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):
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 1.01 Entry into a Material Definitive Agreement
Effective as of July 11, 2005 the Compensation Committee of the Board of Directors of Depomed, Inc. (the Company) approved the Companys Bonus Plan attached hereto as Exhibit 10.1 (the Bonus Plan).
The Bonus Plan is designed to provide employees with a performance-based plan that rewards the achievment of individual goals and corporate performance. All of the Companys management staff (including executive officers) are eligible to participate in the Bonus Plan.
Bonuses are calculated based upon formula which takes into account the participants base salary, the Companys overall performance in relation to its corporate goals and the performance of the participant in relation to his/her individual goals, weighted to reflect the significance of the goal and the level of effort required to achieve it.
Bonuses will be calculated and paid by March 31 after the end of the performance year during which the bonuses were earned.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
10.1 |
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Depomed, Inc. Bonus Plan |
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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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DEPOMED, INC. |
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Date: July 14, 2005 |
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By: |
/s/ John F. Hamilton |
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John F. Hamilton |
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Vice President, Finance and |
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Chief Financial Officer |
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EXHIBIT INDEX
Exhibit |
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10.1 |
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Depomed, Inc. Bonus Plan |
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