UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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) January 5, 2015
METABOLIX, INC.
(Exact Name of Registrant as Specified in Its Charter)
DELAWARE
(State or Other Jurisdiction of Incorporation)
001-33133 |
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04-3158289 |
(Commission File Number) |
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(IRS Employer Identification No.) |
21 Erie Street, Cambridge, Massachusetts |
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02139 |
(Address of Principal Executive Offices) |
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(Zip Code) |
(617) 583-1700
(Registrants Telephone Number, Including Area Code)
(Former Name or Former Address, if Changed Since Last Report)
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 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 January 5, 2015, the Compensation Committee of the Board of Directors of Metabolix, Inc. (the Company) approved a program under which each member of the Companys senior management, including the Companys executive officers, shall have the opportunity to elect, before the amount of the 2014 performance bonus is determined, to convert up to 25% of his or her cash bonus to restricted stock units (RSUs) under the Companys 2014 Stock Option and Incentive Plan. The number of RSUs to be granted pursuant to any such election will be determined by multiplying the cash value of such grantees converted bonus by 2.5 and dividing the product by the fair market value per share of the Companys common stock at the close of business on the date the Companys Compensation Committee approves 2014 performance bonuses. All such RSUs shall vest in full one (1) year after the date of grant; provided, however, that if prior to the vesting date the grantees employment is terminated by the Company for cause or the grantee voluntarily terminates his or her employment with the Company, the RSUs shall be forfeited and shall not vest.
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.
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METABOLIX, INC. |
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Date: January 9, 2015 |
By: |
/s/ Joseph Shaulson |
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Joseph Shaulson |
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President & Chief Executive Officer |