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SEC Filings

S-1/A
OREXIGEN THERAPEUTICS, INC. filed this Form S-1/A on 04/09/2007
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executive officers, sometimes referred to herein as our “named executive officers,” during the fiscal year ended December 31, 2006.
 
                                                                         
                                        Change in
             
                                        Pension Value
             
                                        and
             
                                        Nonqualified
             
                                  Non-Equity
    Deferred
             
                      Stock
    Option
    Incentive Plan
    Compensation
    All Other
       
Name and
        Salary
    Bonus(1)
    Awards
    Awards(2)
    Compensation(3)
    Earnings
    Compensation
    Total
 
Principal Position
  Year     ($)     ($)     ($)     ($)     ($)     ($)     ($)     ($)  
 
Gary D. Tollefson, M.D., Ph.D. 
    2006       367,500                   1,290,037       91,875             29,722 (4)     1,779,134  
President, Chief Executive Officer and Member of the Board of Directors
                                                                       
Anthony A. McKinney
Chief Operating Officer
    2006       286,000       160,000             71,466       71,500             200,355 (5)     789,321  
Graham K. Cooper
Chief Financial Officer, Treasurer and Secretary(6)
    2006       154,688                   275,277       43,134             22,951 (7)     496,050  
Eduardo Dunayevich, M.D. 
Chief Medical Officer
    2006       94,667       100,000             220,479       21,896             88,248 (8)     525,290  
Ronald P. Landbloom, M.D.
Vice President of Medical and Regulatory Affairs
    2006       80,000       100,000             162,699       15,781             95,268 (9)     453,748  
Lynne Rollins
Chief Financial Officer(10)
    2006                                           36,530 (11)     36,530  
 
 
(1) Each bonus listed represents a one-time bonus paid in connection with signing and relocation.
 
(2) The value of each of the option awards was computed in accordance with FAS 123(R) for 2006 without consideration of forfeitures. Valuation assumptions are described in Note 2 of Notes to Financial Statements.
 
(3) Represents bonuses earned under the Executive Bonus Plan in 2006 and paid in 2007.
 
(4) Includes $25,848 for commuting expenses and $3,874 of relocation expenses.
 
(5) Includes $165,968 of relocation expenses, $11,117 for commuting expenses, $20,841 for reimbursement of taxes, and $2,429 as reimbursement for other expenses.
 
(6) Mr. Cooper joined us in May 2006.
 
(7) Represents $22,951 for commuting expenses.
 
(8) Includes $74,424 of relocation expenses, $6,205 for commuting expenses and $7,619 for reimbursement of taxes.
 
(9) Includes $82,796 of relocation expenses, $4,976 for commuting expenses and $7,496 for reimbursement of taxes.
 
(10) During 2006, Ms. Rollins served in a consulting capacity as our chief financial officer until her resignation in July 2006.
 
(11) Represents consulting fees.
 
Grants of Plan-Based Awards
 
All plan based awards granted to our named executive officers are incentive stock options, to the extent permissible under the Internal Revenue Code. The exercise price per share of each option granted to our named executive officers was determined in good faith by our board of directors to be equal to the fair market value of our common stock as determined by our board of directors on the date of the grant. All options were granted under our 2004 plan, as described below in the section entitled “Employee Benefit and Stock Plans — 2004 Stock Plan.”


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