SECURITIES AND EXCHANGE COMMISSION
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
March 10, 2005
Date of Report (Date of earliest event reported)
|(State or other jurisdiction
|630 Fifth Avenue, Suite 2100|
|New York, NY 10111||10111|
|(Address of principal executive offices)||(Zip Code)|
(Registrants 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 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 1.01 Entry into a Material Definitive Agreement
On March 10, 2005, the Board of Directors of Antigenics Inc. (the Company) ratified the recommendation of the Compensation Committee and awarded Garo Armen, Chairman and CEO, a cash bonus of $174,300 under the Companys Executive Incentive Plan, a stock option grant of 300,000 shares under the Companys 1999 Equity Incentive Plan and set his base salary for 2005 at $440,000. In addition, the Board of Directors ratified the recommendation of the Compensation Committee to award Pramod Srivastava, Founding Scientist, a cash bonus of $135,000 and a stock option grant of 120,000 shares under the Companys 1999 Equity incentive Plan.
On February 10, 2005, the Compensation Committee awarded the following cash bonuses to the Companys named executives:
Peter Thornton, Sr. Vice-President and Chief Financial Officer
Russell Herndon, President, Commercial Operations
Renu Gupta, Sr. Vice-President, Development
Roman Chicz, Sr. Vice-President, Research & Preclinical development
All bonus awards are recommended based on achievement of goals and benchmark data.
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: March 16, 2005||By: /s/ Garo H. Armen|
|Garo H. Armen, Ph.D.
Chairman and Chief Executive Officer