OPKO Health, Inc. - Form 8-K Summary
Business Context and Reporting Period
This Form 8-K was filed by OPKO Health, Inc. on March 18, 2015. The report details a meeting held by the Compensation Committee of the Board of Directors on the same date to review and approve compensation matters for executive officers and non-executive employees.
Key Financial Metrics
The filing does not provide data on revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation adjustments.
Material Changes
The primary material event reported is the approval of new stock options and cash bonuses for four named executive officers. The stock options vest ratably over four years and expire on the tenth anniversary of the grant date.
| Name | Title | Stock Options Granted | Bonus Payment |
|---|---|---|---|
| Phillip Frost | Chief Executive Officer/Chairman | 500,000 | $200,000 |
| Jane H. Hsiao | Vice Chairman/Chief Technical Officer | 450,000 | $175,000 |
| Steven D. Rubin | Executive Vice President | 450,000 | $150,000 |
| Adam Logal | Senior Vice President/Chief Financial Officer | 250,000 | $100,000 |
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on business outlook, or discussion of risks and contingencies beyond the standard disclosure of the compensation event.
Key Facts for Investor Verification
- Total cash bonus liability approved for the four named officers is $625,000.
- Total stock options granted to the four named officers is 1,650,000 shares.
- Options vest ratably over a four-year period.
- Options expire ten years from the grant date (March 18, 2025).
- The filing does not disclose the exercise price of the granted stock options.