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 10, 2011
WORLD
HEART CORPORATION
(Exact
name of registrant as specified in charter)
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Delaware
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000-28882
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52-2247240
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(State
or other jurisdiction of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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4750
Wiley Post Way, Suite 120, Salt Lake City, Utah
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84116
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(Address
of principal executive offices)
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(Zip
Code)
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(801)
355-6255
Registrant’s
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 Exchange Act (17 CFR
240.14d-2(b))
o Pre-commencement
communications pursuant to Rule 13e-4(c) under 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
On
February 10, 2011, the Compensation Committee of the Board of Directors of World
Heart Corporation (the “Company”), upon delegation by the Board of Directors of
the Company, determined that certain performance goals established in connection
with the Company’s 2010 cash performance bonus program for the Company’s
executive officers and other employees (the “2010 Performance Bonus Program”)
had been met by J. Alex Martin, the Company’s President and Chief Executive
Officer, Morgan R. Brown, the Company’s Executive Vice President and Chief
Financial Officer, Jal S. Jassawalla, the Company’s Executive Vice President and
Chief Technology Officer and John C. Woodard, Senior Vice President of
Scientific Affairs. As a result, the Compensation Committee approved
the payment of cash bonuses to such officers pursuant to the 2010 Performance
Bonus Program in the amounts set forth in the table below.
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Named
Executive Officer
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Cash
Performance Bonus
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|||
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J.
Alex Martin, President and Chief Executive Officer
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$ | 42,048 | ||
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Jal
S. Jassawalla, Executive Vice President and
Chief Technology Officer
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$ | 31,474 | ||
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Morgan
R. Brown, Executive Vice President and
Chief Financial Officer
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$ | 22,471 | ||
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John
C. Woodard, Senior Vice President of Scientific
Affairs
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$ | 6,353 | ||
SIGNATURE
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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Date: February
14, 2011
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WORLD
HEART CORPORATION
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By:
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/s/ Morgan R.
Brown
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Name:
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Morgan
R. Brown
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Title:
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Executive
Vice President and Chief Financial
Officer
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