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)
|
October 18,
2009
|
NEOPROBE CORPORATION
(Exact
name of registrant as specified in its charter)
Delaware
|
0-26520
|
31-1080091
|
(State
or other jurisdiction
|
(Commission
|
(IRS
Employer
|
of
incorporation)
|
File
Number)
|
Identification
No.)
|
425 Metro Place North, Suite 300, Columbus,
Ohio
|
43017
|
(Address
of principal executive offices)
|
(Zip
Code)
|
Registrant's
telephone number, including area code
|
(614)
793-7500
|
(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):
oWritten communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
oPre-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; CompensatoryArrangements of Certain
Officers.
2010 Cash Bonus Goals for
Named Executive Officers
The Compensation, Governance and
Nominating Committee (the “Committee”) of Neoprobe Corporation (the “Company”)
has approved the award of cash bonuses to the named executive
officers listed in the table below, to be paid in the first quarter of 2011 in
amounts to be determined by the Committee upon achievement of the following
corporate bonus objectives established by the Committee, and subject to
reduction if the goals are not achieved:
·
|
Achievement
of specified 2010 annual revenue and gross margin goals for medical device
and radiopharmaceutical product lines, subject to 25% reduction of bonus
if not achieved.
|
·
|
Filing
of complete new drug
application for Lymphoseek with the United States Food and Drug
Administration by June 30, 2010, subject to 50% reduction of bonus if not
achieved.
|
·
|
Discretionary
bonus, equal to 25% of the total bonus
objective.
|
The final amount of any cash bonus to
be paid to the named executives will be subject to the determination of the
Committee at a meeting to be held after the delivery of the financial statements
of the Company for the year ending December 31, 2010, and adjusted by the
weighting percentage, if any, of the overall corporate objectives that were not
achieved.
Name
|
Position
|
2010 Maximum Cash Bonus
Amount
|
|
David
C. Bupp
|
President
and Chief Executive Officer
|
$125,000
|
|
Frederick
O. Cope, Ph. D.
|
Vice
President, Pharmaceutical Research and Clinical
Development
|
$52,750
|
|
Brent
L. Larson
|
Vice
President, Finance, Chief Financial Officer, Treasurer and
Secretary
|
$40,000
|
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.
Neoprobe Corporation | |||
Date: October
29, 2009
|
By:
|
/s/ Brent L. Larson | |
Brent
L. Larson, Vice President, Finance and
Chief
Financial Officer
|