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 6, 2014
 
Apricus Biosciences, Inc.
(Exact name of registrant as specified in its charter)
 
Nevada
0-22245
87-0449967
(State or other jurisdiction of
incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)
 
11975 El Camino Real, Suite 300, San Diego, CA
92130
(Address of principal executive offices)
(Zip Code)
 
Registrant’s telephone number, including area code (858) 222-8041
 
 
 
 
 (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:
 
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13a-4(c))
 
   
 
 

1




Item 5.02
Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
 
On February 6, 2014, the Board of Directors of Apricus Biosciences, Inc. (the "Company") approved (i) annual increases in the base salaries for those officers identified below, (ii) the payment of annual cash bonus awards for fiscal 2013 for the same officers and (iii) option grants for the same officers, each with a four year vesting period and an exercise price set at the closing price of the Company’s common stock on the date of grant. Salary increases will be effective as of January 1, 2014.
 
Name
 
Title
 
New Salary
 
Bonus Payment
Option Grant
Richard W. Pascoe
 
Chief Executive Officer
 
$455,000
 
$142,521
157,808
Steve Martin
 
Senior Vice President, Chief Financial Officer & Secretary
 
$320,000
 
$90,738
75,000
Edward Cox
 
Vice President of Business Development
 
$195,000
 
$46,665
50,000


2





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.
 
 
Apricus Biosciences, Inc.
 
 
 Date: February 10, 2014
By:
/s/ Steve Martin
 
 
 
Name: Steve Martin
 
 
 
Title: Senior Vice President, Chief Financial Officer & Secretary



 


3