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MEDIVATION, INC. FILES (8-K) Disclosing Change in Directors or Principal Officers(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On April 15, 2014, the board of directors (the "Board") of Medivation, Inc. appointed Patrick Machado as a member of the Board. Mr. Machado recently retired from his role as chief financial and business officer of Medivation and remained as an employee of Medivation until April 18, 2014. Mr. Machado became a non-employee director starting on April 19, 2014. Under the current standard compensation arrangements for non-employee directors of Medivation, Mr. Machado will be entitled to receive the following compensation: 1. An annual Board cash retainer of $50,000; and 2. An annual equity grant each year with a value equal to $350,000, split equally between stock options and restricted stock units, both with a one year vesting period and with the exercise price of the option equal to the closing price of Medivation common stock on the date of grant. -------------------------------------------------------------------------------- [ Back To TMCnet.com's Homepage ] |