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SEC Filings

S-1/A
OREXIGEN THERAPEUTICS, INC. filed this Form S-1/A on 04/09/2007
Entire Document
 
Table of Contents

 
The following table presents information concerning grants of plan-based awards to each of the named executive officers during 2006.
 
                                 
        All Other Option
       
        Awards: Number of
  Exercise or Base
  Grant Date Fair
        Securities
  Price of Option
  Value of Stock and
        Underlying Options
  Awards
  Option Awards(1)
Name
  Grant Date   (#)   ($/Sh)   ($)
 
Gary D. Tollefson, M.D., Ph.D. 
    9/28/2006       200,000 (2)     2.00       1,776,000  
Anthony A. McKinney
    9/28/2006       125,000 (3)     2.00       1,110,000  
Graham K. Cooper
    5/12/2006       262,944 (4)     0.70       1,724,913  
Eduardo Dunayevich, M.D. 
    9/28/2006       250,000 (5)     2.00       2,220,000  
Ronald P. Landbloom. M.D. 
    9/28/2006       250,000 (6)     2.00       2,220,000  
Lynne Rollins
                       
 
 
(1) The value of option awards granted to our named executive officers was computed in accordance with FAS 123(R) without consideration of forfeitures. Valuation assumptions are described in Note 2 of Notes to Financial Statements.
 
(2) The option to purchase 200,000 shares of common stock granted to Dr. Tollefson under the 2004 plan has a term of ten years and vests in accordance with the following schedule: 1/48th of the total number of shares vest on the first day of each of the immediately following calendar months following September 28, 2006.
 
(3) The option to purchase 125,000 shares of common stock granted to Mr. McKinney under the 2004 plan has a term of ten years and vests in accordance with the following schedule: 1/48th of the total number of shares vest on the first day of each of the immediately following calendar months following September 28, 2006.
 
(4) The option to purchase 262,944 shares of common stock granted to Mr. Cooper under the 2004 plan has a term of ten years and vests in accordance with the following schedule: 1/48th of the total number of shares vest on the fifteenth day of each of the immediately following calendar months following May 12, 2006.
 
(5) The option to purchase 250,000 shares of common stock granted to Dr. Dunyavich under the 2004 plan has a term of ten years and vests in accordance with the following schedule: 1/4th of the total number of shares vest on August 8, 2007 and 1/36th of the total remaining number of shares vest on the same day of each month thereafter.
 
(6) The option to purchase 250,000 shares of common stock granted to Dr. Landbloom under the 2004 plan has a term of ten years and vests in accordance with the following schedule: 1/4th of the total number of shares vest on September 15, 2007 and 1/36th of the total remaining number of shares vest on the same day of each month thereafter.
 
Employee Benefit and Stock Plans
 
2007 Equity Incentive Award Plan
 
In February 2007, our board of directors approved our 2007 equity incentive award plan, or 2007 plan, which was approved by our stockholders in February 2007. The 2007 plan will become effective on the day prior to the date of this prospectus.
 
We have initially reserved 3,525,000 shares of our common stock for issuance under the 2007 plan, plus (i) the number of shares of our common stock remaining available for issuance and not subject to awards granted under the 2004 plan as of the effective date of the 2007 plan and (ii) the number of shares of our common stock subject to each award granted under the 2004 plan on or before the effective date of the 2007 plan as to which such award was not exercised prior to its expiration or cancellation or which are forfeited or repurchased by us. In addition, the 2007 plan contains an “evergreen provision” that allows for an annual increase in the number of shares available for issuance under the 2007 plan on January 1 of each year during


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