-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NkbVfNQHmpynQqMCRIiPIsXed3prQUUg1brIqpZMPBKNZUJUZxnCW4HA7ytKw2wa X8daOJ5KfBTkieI9Zp12mg== 0000950137-07-018736.txt : 20071219 0000950137-07-018736.hdr.sgml : 20071219 20071219170450 ACCESSION NUMBER: 0000950137-07-018736 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20071219 ITEM INFORMATION: Entry into a Material Definitive Agreement FILED AS OF DATE: 20071219 DATE AS OF CHANGE: 20071219 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AKORN INC CENTRAL INDEX KEY: 0000003116 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 720717400 STATE OF INCORPORATION: LA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32360 FILM NUMBER: 071316911 BUSINESS ADDRESS: STREET 1: 2500 MILLBROOK DRIVE CITY: BUFFALO GROVE STATE: IL ZIP: 60089 BUSINESS PHONE: 8472796100 MAIL ADDRESS: STREET 1: 2500 MILLBROOK DRIVE CITY: BUFFALO GROVE STATE: IL ZIP: 60089 8-K 1 c22427e8vk.htm CURRENT REPORT e8vk
 

 
 
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: December 19, 2007
(Date of earliest event reported)
Akorn, Inc.
(Exact name of registrant as specified in its charter)
         
Louisiana
(State or other
Jurisdiction of
Incorporation) 		  0-13976
(Commission
File Number) 		  72-0717400
(I.R.S. Employer
Identification No.)
2500 MILLBROOK DRIVE
BUFFALO GROVE, ILLINOIS 60089
(Address of principal executive offices, zip code)

(847) 279-6100
(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 (see General Instruction A.2. below):
o   Written communication 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 communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o   Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 

 

Item 1.01 Entry Into A Material Definitive Agreement.
     On December 19, 2007, the Board of Directors (the “Board”) of Akorn, Inc. (“Akorn”), voted unanimously by means of a written consent effective as of December 17, 2007: (i) that effective January 1, 2008 Akorn award 10,000 shares of its restricted stock to each then-serving director of Akorn, other than the Chief Executive Officer (“CEO”) and Chairman of Akorn (“Chairman”), with 1/4 of such shares vesting at issuance (January 1, 2008) and 1/4 vesting on each of January 1, 2009, 2010 and 2011, subject to the Amended and Restated Akorn, Inc. 2003 Stock Option Plan; (ii) effective as of January 1, 2008 and for the 2008 calendar year only, to compensate then-serving members of the Board, other than the CEO and Chairman, as follows: (a) $20,000 per year to each director as an annual retainer; (b) $5,000 per year to each committee chair as an annual retainer; (c) $1,500 to each director for each Board meeting attended in person; (d) $500 to each director for each committee meeting attended (other than such a meeting held on the same day as a Board meeting attended in person); and (e) $500 to each director for each Board meeting attended by telephone; and (iii) to compensate the Chairman for his services at the rate of $50,000 per year, payable quarterly.
     The current members of the Board of Akorn are Dr. John N. Kapoor, who serves as Chairman, Arthur S. Przybyl, who serves as CEO, Ronald M. Johnson, Jerry I. Treppel, Subhash Kapre, Randall J. Wall and Jerry N. Ellis.

 

 

SIGNATURES
     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.
         
  Akorn, Inc.
 		  
  By:   /s/ Jeffrey A. Whitnell    
    Jeffrey A. Whitnell   
    Chief Financial Officer, Treasurer
and Secretary 		  
 
Date: December 19, 2007

 

-----END PRIVACY-ENHANCED MESSAGE-----