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Omeros Corporation (OMER) Message Board

  • rx_investor rx_investor Apr 2, 2010 2:35 PM Flag

    Stock Option Grant

    Omeros disclosure today on Yahoo (below). The stock option grant given to the chief legal officer was priced the day before the significant stock price increase from positive clinical trial news. Very interesting...

    Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
    On March 29, 2010, in connection with an annual review of the compensation of all of our employees, the compensation committee of our board of directors approved an adjustment to the base salary of Marcia S. Kelbon, our vice president, patent, general counsel and secretary. Ms. Kelbon's annual base salary has increased from $285,000 to $310,000 effective as of March 1, 2010. We also adopted a cash incentive plan under which Ms. Kelbon will be eligible to receive an annual bonus of up to 20% of her base salary upon the accomplishment of company-wide corporate objectives established by the compensation committee of our board of directors.
    In addition, also in connection with an annual review of the compensation of all of our employees, Ms. Kelbon was granted two option awards to purchase shares of our common stock, each with an exercise price of $6.05 per share, the closing price of our common stock on The NASDAQ Global Market on March 29, 2010. Both option awards vest in equal monthly installments over a 48-month period, with April 1, 2010 as the first vesting date for the award to purchase up to 75,000 shares and November 1, 2009 as the first vesting date for the award to purchase up to 16,044 shares. Further, in the event of a change in control, as described in our 2008 Equity Incentive Plan, the vesting of these option awards will be accelerated to the extent of 50% of the remaining unvested shares; however, if the option award is not assumed or substituted in the change in control by the successor corporation, the option awards will become fully vested and exercisable immediately prior to the change in control. In addition, under the terms of these option awards, if within 12 months following a change in control Ms. Kelbon is terminated without cause or as a result of a constructive termination, as defined in the option awards, the option awards will fully vest and become exercisable.

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