8-K 1 d8k.htm FORM 8-K Form 8-K

 

 

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): June 10, 2010

 

 

BIOJECT MEDICAL TECHNOLOGIES INC.

(Exact name of registrant as specified in its charter)

 

 

Commission File Number: 000-15360

 

Oregon   93-1099680

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

20245 SW 95th Avenue

Tualatin, Oregon

  97062
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (503) 692-8001

Former name or former address if changed since last report:

No Change

 

 

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 240.13e-4(c))

 

 

 


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

 

(e)

On June 10, 2010, Bioject Medical Technologies Inc.’s (“Bioject”) shareholders approved amendments to the 2002 Restated Stock Incentive Plan to (i) reserve an additional 1,500,000 shares for the 2002 Restated Stock Incentive Plan, thereby increasing the total number of shares reserved for issuance under the 2002 Restated Stock Incentive Plan to 5,400,000 shares and (ii) extend the expiration date of the Plan from June 30, 2010 to June 9, 2020.

On June 10, 2010, pursuant to the 2002 Restated Stock Incentive Plan, the Board of Directors made the following option grants to named executive officers:

 

Name

   Number of Shares of
Common Stock
Underlying Option (1)
   Exercise Price Per
Share

Ralph Makar

   330,000    $ 0.15

Christine M. Farrell

   240,000    $ 0.15

Richard R. Stout, M.D.

   270,000    $ 0.15

 

(1) Each option will vest 1/4 annually on the first four anniversaries of the date of grant.

Pursuant to Ralph Makar’s Employment Agreement dated October 1, 2007, Mr. Makar is eligible to receive a target of 200,000 restricted stock units for each of the 2008 and 2009 calendar years based upon his achievement in each period of certain milestones. The employment agreement provides that such restricted stock units will vest 1/3 annually on the first three anniversaries of the date of grant. On June 10, 2010, the Board of Directors awarded Mr. Makar 400,000 restricted stock units pursuant to his employment agreement with respect to performance in calendar years 2008 and 2009. Of the 400,000 restricted stock units awards, 1/2 were vested as of the grant date and an additional 1/4 will vest annually on the first two anniversaries of the grant date. Accelerated vesting was in lieu of any cash bonus.

Item 5.07 Submission of Matters to a Vote of Security Holders

On June 10, 2010, Bioject held its Annual Meeting of Shareholders. Final voting results for each proposal are set forth in the tables below:

 

1. The shareholders elected the four nominees for director to the Board of Directors. The four directors elected, along with the voting results, were as follows:

 

Name

   Class    No. of Shares  Voting
For
   No. of Shares Withheld Voting

Edward L. Flynn

   2    23,672,962    240,081

David S. Tierney, M.D.

   2    23,826,730    86,313

Al Hansen

   3    23,677,752    235,291

Mark Logomasini

   3    23,650,249    262,794

 

2. To amend the 1992 Stock Incentive Plan to increase the number of shares available for issuance thereunder and to extend the expiration date:

 

No. of Shares

Voting For:

 

No. of Shares

Voting Against:

 

No. of Shares

Abstaining:

 

No. of Broker

Non-Votes:

22,912,462

  958,042   42,539   7,514,979

 

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3. To amend Article IX and delete Article X of our 2002 Amended and Restated Articles of Incorporation to declassify Bioject’s Board of Directors and eliminate a 75% shareholder voting requirement for certain matters:

 

Classes

   No. of Shares
Voting For:
   No. of Shares
Voting  Against:
   No. of  Shares
Abstaining:
   No. of  Broker
Non-Votes:

Common Stock

   13,759,317    1,796,869    641,090    —  

Series D Preferred Stock

   1,846,154    —      —      —  

Series E Preferred Stock

   3,308,392    —      —      —  

Series F Preferred Stock

   831,400    —      —      —  

Series G Preferred Stock

   9,244,800    —      —      —  

 

4. To approve an amendment to our 2002 Amended and Restated Articles of Incorporation to increase the number of authorized shares of preferred stock:

Classes

   No. of Shares
Voting For:
   No. of Shares
Voting  Against:
   No. of  Shares
Abstaining:
   No. of  Broker
Non-Votes:

Common Stock

     7,644,341       968,195      69,761    7,514,979

Series D Preferred Stock

   1,846,154    —      —      —  

Series E Preferred Stock

   3,308,392    —      —      —  

Series F Preferred Stock

   831,400    —      —      —  

Series G Preferred Stock

   9,244,800    —      —      —  

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibit is filed herewith and this list is intended to constitute the exhibit index:

 

  3 Articles of Amendment to 2002 Amended and Restated Articles of Incorporation.

 

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SIGNATURE

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: June 15, 2010     BIOJECT MEDICAL TECHNOLOGIES INC.
    (Registrant)
   

/s/ CHRISTINE M. FARRELL

    Christine M. Farrell
    Vice President of Finance
    (Principal Financial and Accounting Officer)

 

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