Jazz Pharmaceuticals Plc - 8-K Summary
Business Context and Reporting Period
This Form 8-K Current Report was filed by Jazz Pharmaceuticals, Inc. on October 3, 2007. The filing addresses corporate governance changes, specifically the departure of a director and the subsequent election of a new director to the Board.
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 personnel changes and associated compensation arrangements.
Material Changes
- Resignation: Adam H. Clammer resigned from the Board of Directors effective immediately on October 3, 2007.
- Election: Nathaniel M. Zilkha was elected to the Board on October 4, 2007, to fill the vacancy created by Mr. Clammer's resignation.
- Term: Mr. Zilkha's term expires at the 2008 Annual Meeting of Stockholders.
Compensation and Governance Details
Mr. Zilkha's compensation package includes:
- Annual Retainer: $30,000 for service as a Board member.
- Expense Reimbursement: Reimbursement for reasonable expenses incurred attending Board meetings.
- Committee Retainers: Eligible for supplemental annual retainers ranging from $5,000 to $15,000 if appointed as chair of any Board committees (no committee appointments were made at the time of election).
- Deferred Compensation: Eligible to participate in the Directors Deferred Compensation Plan, allowing deferral of retainer fees into a phantom stock account.
- Indemnification: The Company entered into a standard indemnity agreement with Mr. Zilkha.
Outlook and Risks
The filing does not contain guidance, outlook, management commentary on business operations, or specific risk factors beyond standard governance disclosures.
Key Facts for Investor Verification
- Confirm the effective date of Adam H. Clammer's resignation (October 3, 2007).
- Verify the election of Nathaniel M. Zilkha and his term expiration (2008 Annual Meeting).
- Note the specific compensation structure for non-employee directors ($30,000 base retainer).
- Check for any future committee appointments for Mr. Zilkha that would trigger supplemental retainers.