Omnicell, Inc.
OMNICELL, Inc (Form: 8-K, Received: 02/08/2011 16:06:23)

 

 

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 2, 2011

 

OMNICELL, INC.

(Exact name of registrant as specified in its charter)

 

Delaware

 

000-33043

 

94-3166458

(State or other jurisdiction of
incorporation or organization)

 

(Commission File Number)

 

(IRS Employer
Identification Number)

 

1201 Charleston Road
Mountain View, CA  94043

(Address of principal executive offices, including zip code)

 

(650) 251-6100

(Registrant’s telephone number, including area code)

 


 

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:

 

o             Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o             Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o             Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o             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

 

On February 2, 2011, at a meeting of the Compensation Committee (the “ Committee ”) of the Board of Directors of Omnicell, Inc. (the “ Company ”), the Committee approved the 2011 annualized base salaries for the Company’s executive officers as set forth below.  The annualized base salaries are effective July 1, 2011.  In addition, the Committee granted long-term equity compensation awards to the Company’s executive officers in the amounts set forth below.

 

 

 

 

 

 

 

Long-Term Equity Compensation

 

 

 

 

 

 

 

 

 

 

 

Restricted

 

 

 

 

 

 

 

 

 

Restricted

 

Stock

 

 

 

 

 

2011

 

Stock

 

Stock

 

Units

 

 

 

 

 

Annualized

 

Option

 

Units

 

(performance

 

Name

 

Title

 

Base Salary

 

Grant(1)

 

(time based)

 

based)

 

Randall A. Lipps

 

Chairman, President and Chief Executive Officer

 

$

476,000

 

36,400

 

18,180

 

36,360

 

Robin G. Seim

 

Vice President and Chief Financial Officer

 

$

273,000

 

13,600

 

6,820

 

13,640

 

J. Christopher Drew

 

Senior Vice President, Field Operations

 

$

300,000

 

13,600

 

6,820

 

13,640

 

Dan S. Johnston

 

Vice President and General Counsel

 

$

252,000

 

11,400

 

5,680

 

11,360

 

Nhat Ngo

 

Vice President, Strategy and Business Development

 

$

252,000

 

11,400

 

5,680

 

11,360

 

Marga Ortigas-Wedekind

 

Vice President, Global Marketing and Product Development

 

$

273,000

 

13,600

 

6,820

 

13,640

 

 


(1)           The exercise price of each of the stock option grants is equal to closing price of the Company’s stock on the date of grant, February 2, 2011, as reported on The NASDAQ Global Market, which was $13.94 per share.

 

The shares subject to each of the stock option grants vest as to 25% of the shares subject to the grant on the first anniversary of the vesting commencement date of such grants, January 1, 2011, with the remainder of the shares subject to the grant vesting in equal monthly installments over the following thirty-six months.  The time based restricted sock unit awards vest on a semi-annual basis over a period of four years from the vesting commencement date of such grants, January 1, 2011.  The performance based restricted stock unit awards vest as to 25% of the shares on January 2, 2012, with the remaining shares vesting on a semi-annual basis over a period of thirty-six months if the Company meets certain stock performance  objectives compared to the NASDAQ Healthcare Index.  The actual number of shares that vest may be 0% to 120% of the numbers reflected above, depending upon the Company’s performance.

 

Item 9.01.  Financial Statements and Exhibits.

 

(d)            Exhibits.

 

Exhibit
Number

 

Description

10.1

 

2011 Executive Officer Annual Base Salaries

 

2



 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

 

 

OMNICELL,   INC.

 

 

 

 

 

 

Dated:  February 8, 2011

By:

/s/ Dan S. Johnston

 

 

Dan S. Johnston,
Vice President
and General Counsel

 

3



 

INDEX TO EXHIBITS

 

Exhibit
Number

 

Description

10.1

 

2011 Executive Officer Annual Base Salaries

 

4


Exhibit 10.1

 

2011 Executive Officer Annualized Base Salaries

 

The annualized base salaries for our executive officers for 2011 (effective July 1, 2011) are as follows:

 

Name

 

Title

 

Annualized
Base Salary

 

Randall A. Lipps

 

Chairman, President and Chief Executive Officer

 

$

476,000

 

Robin G. Seim

 

Vice President and Chief Financial Officer

 

$

273,000

 

J. Christopher Drew

 

Senior Vice President, Field Operations

 

$

300,000

 

Dan S. Johnston

 

Vice President and General Counsel

 

$

252,000

 

Nhat Ngo

 

Vice President, Strategy and Business Development

 

$

252,000

 

Marga Ortigas-Wedekind

 

Vice President, Global Marketing and Product Development

 

$

273,000