a51040289.htm
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
 

 
February 9, 2015
 
 
Date of report (Date of earliest event reported)
 

 
 
SurModics, Inc.
 
 
(Exact Name of Registrant as Specified in its Charter)
 
 
 
Minnesota
 
0-23837
 
41-1356149
(State of Incorporation)
 
(Commission File Number)
 
(I.R.S. Employer
Identification No.)
 
 
 
9924 West 74th Street
Eden Prairie, Minnesota
 
 
 
55344
(Address of Principal Executive Offices)
 
(Zip Code)
 
 
 
(952) 500-7000
 
 
(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):

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.
 
(e)           On February 9, 2015, the Organization and Compensation Committee of the Board of Directors of SurModics, Inc. (the “Company”) approved amendments to the change of control agreements (each, an “Agreement”) that were previously entered between the Company and each of Charles W. Olson, Senior Vice President and General Manager, Medical Device, Andrew D. C. LaFrence, Vice President of Finance and Chief Financial Officer, Bryan K. Phillips, Senior Vice President of Legal and Human Resources, General Counsel and Secretary, and Joseph J. Stich, Vice President and General Manager, In Vitro Diagnostics (each, an “Executive”).
 
The amendments extend the term of the Agreement with each Executive until the twelve-month anniversary of the date on which a Change of Control (as defined in the original agreement) occurs.  Each Agreement will automatically terminate and the Executive will not be entitled to any of the compensation and benefits described in the Agreement if, prior to a Change of Control occurring, the Executive’s employment with the Company terminates for any reason or no reason, or if the Executive no longer serves as an executive officer of the Company.
 
The foregoing description of the amendments is qualified in its entirety by reference to the Amendments to the Change of Control Agreements, which are filed as exhibits to this Form 8-K.
 
Item 5.07          Submission of Matters to a Vote of Security Holders.
 
On February 10, 2015, the Company held its 2015 Annual Meeting of Shareholders.  The final voting results of the proposals, which were described in more detail in the Company’s proxy statement filed with the Securities and Exchange Commission on December 22, 2014, are set forth below.
 
1.   Election of Directors.  Each of the individuals nominated by the Company’s Board of Directors to serve as Class I directors was duly elected by the Company’s shareholders, and the final results of the votes cast are as follows:
 
 
For
 
Withheld
 
Broker Non-Votes
David R. Dantzker, M.D.
9,937,419
 
152,617
 
1,476,543
Gary R. Maharaj
9,867,725
 
222,311
 
1,476,543
Timothy S. Nelson
9,945,658
 
144,378
 
1,476,543
 
2.   Set the Number of Directors.  The Company’s shareholders approved the proposal to set the number of directors at nine (9) by the following vote:
 
For
 
Against
 
Abstain
 
Broker Non-Votes
11,509,423
 
36,254
 
3,924
 
-
 
 
 

 
 
3.   Ratification of the Appointment of Deloitte & Touche LLP.  The Company’s shareholders ratified the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for fiscal year 2015 by the following vote:
 
For
 
Against
 
Abstain
 
Broker Non-Votes
11,302,476
 
234,897
 
3,228
 
-

4.   Advisory Vote on Executive Compensation.  The Company’s shareholders approved the compensation of the Company’s named executive officers, on an advisory basis, by the following vote:
 
For
 
Against
 
Abstain
 
Broker Non-Votes
9,830,677
 
233,201
 
9,180
 
1,476,543
 
Item 9.01          Financial Statements and Exhibits. 

(d) Exhibits.    
 
Exhibit
Number
 
Description
 
10.1
 
Amendment to Change of Control Agreement with Charles W. Olson dated
February 9, 2015
 
10.2
 
Amendment to Change of Control Agreement with Andrew D. C. LaFrence dated
February 9, 2015
 
10.3
 
Amendment to Change of Control Agreement with Bryan K. Phillips dated
February 9, 2015
 
10.4
 
Amendment to Change of Control Agreement with Joseph J. Stich dated
February 9, 2015

 
 

 
 
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.
 
  SURMODICS, INC.  
       
Date: February 13, 2015
 
/s/ Bryan K. Phillips  
   
Bryan K. Phillips
 
   
Sr. Vice President, General Counsel and Secretary
 
 
 
 

 
 
EXHIBIT INDEX

 
Exhibit
Number
 
Description
10.1
 
Amendment to Change of Control Agreement with Charles W. Olson dated
February 9, 2015
10.2
 
Amendment to Change of Control Agreement with Andrew D. C. LaFrence dated
February 9, 2015
10.3
 
Amendment to Change of Control Agreement with Bryan K. Phillips dated
February 9, 2015
10.4
 
Amendment to Change of Control Agreement with Joseph J. Stich dated
February 9, 2015