Alkermes Plc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Alkermes Plc. on May 15, 2013. The filing reports a corporate governance event: the election of a new director to the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on director compensation and appointment details.
Material Changes
On May 15, 2013, the Board of Directors elected Ms. Nancy J. Wysenski as a director, effective immediately. She was designated as a Class I director and will stand for re-election at the 2015 annual general meeting. She was not appointed to any Board committees.
Compensation and Governance Details
Ms. Wysenski's compensation package includes:
- Annual Cash Retainer: $60,000 for Board service.
- Meeting Fees: $3,500 per Board meeting.
- Initial Equity Grant: 35,000 ordinary shares upon election.
- Annual Equity Grant: 25,000 ordinary shares on the date of the annual general meeting.
- Pro-Rated Equity Grant: 6,250 ordinary shares for service until the next annual meeting.
The filing states there are no arrangements or understandings between Ms. Wysenski and other persons regarding her appointment, and she holds no material interest in transactions requiring disclosure under Item 404(a) of Regulation S-K.
Investor Verification Checklist
- Verify the total number of outstanding shares to assess the dilution impact of the 41,250 shares granted to Ms. Wysenski.
- Review the definitive proxy statement for the fiscal year ended March 31, 2012, for full details on the standard non-employee director compensation plan.
- Confirm Ms. Wysenski's professional background and qualifications as disclosed in the attached press release (Exhibit 99.1).