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 12, 2015

 

ACELRX PHARMACEUTICALS, INC.

(Exact name of registrant as specified in its charter)

 

 

 

 

 

 

DELAWARE

 

001-35068

 

41-2193603

(State of incorporation)

 

(Commission File No.)

 

(IRS Employer Identification No.)

 

 

351 Galveston Drive

Redwood City, CA 94063

(Address of principal executive offices and zip code)

 

Registrant’s telephone number, including area code: (650) 216-3500

 

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):

 

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 240.13e-4(c))

 

 

 

 
 

 

 

 

ITEM 5.02      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

2015 Base Salaries

 

On February 12, 2015, the Board of Directors (the “Board”) of AcelRx Pharmaceuticals, Inc. (the “Company”) approved the 2015 base salaries (effective retroactively to January 1, 2015) for certain of the Company’s named executive officers (as defined in Item 402(a)(3) of Regulation S-K promulgated by the Securities and Exchange Commission, the “NEOs”) in the amounts set forth in the table below.

 

 

         

Named Executive Officer

  

2015 Base Salary

 

   

Richard A. King, Chief Executive Officer

  

$

490,000

  

   

Timothy E. Morris, Chief Financial Officer

  

$

386,500

  

   

Pamela P. Palmer, M.D., Ph.D., Chief Medical Officer

  

$

438,000

  

   

Badri Dasu, Chief Engineering Officer

  

$

321,000

  

   

Lawrence G. Hamel, Chief Development Officer

  

$

321,000

  

 

Bonus Payments

 

On February 12, 2015, the Board approved bonus payments for 2014 performance for certain of the NEOs in the amount set forth in the table below, in accordance with the Company’s established 2014 Cash Bonus Plan.

 

         

Named Executive Officer

  

2014 Bonus

 

   

Richard A. King, Chief Executive Officer

  

$

91,875

  

   

Timothy E. Morris, Chief Financial Officer

  

$

70,137

  

   

Pamela P. Palmer, M.D., Ph.D., Chief Medical Officer

  

$

104,987

  

   

Badri Dasu, Chief Engineering Officer

  

$

67,867

  

   

Lawrence G. Hamel, Chief Development Officer

  

$

65,695

  

 

 
 

 

 

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.

 

 

 

 

 

 

Date: February 13, 2015

ACELRX PHARMACEUTICALS, INC.

  

 

 

By:  

/s/ Timothy E. Morris

 

 

 

Timothy E. Morris

 

 

 

Chief Financial Officer