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
Date of
Report (Date of Earliest Event Reported): December 15,
2010
STAAR Surgical
Company
(Exact
name of registrant as specified in its charter)
|
Delaware
(State
or other jurisdiction
of
incorporation)
|
0-11634
(Commission
File Number)
|
95-3797439
(I.R.S.
Employer
Identification
No.)
|
|
1911
Walker Ave, Monrovia, California
(Address
of principal executive offices)
|
91016
(Zip
Code)
|
Registrant’s
telephone number, including area
code: 626-303-7902
Not
Applicable
Former
name or former address, if changed since last report
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:
[ ] Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
[ ] Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
[ ] Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
[ ] 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
|
5.02(e)
Compensatory Arrangements of Certain Officers
On
December 15, 2010, the Board of Directors of STAAR Surgical Company (the
“Board”), acting on the recommendation of the Compensation Committee of the
Board (the “Committee”), granted stock options to a number of executives
pursuant to the STAAR Surgical Company Amended and Restated 2003 Omnibus Equity
Incentive Plan (the “2003 Omnibus Plan”).
The
Company granted the stock options to provide incentives for the
rentention of senior executives and to promote mutuality of interest between
senior staff and stockholders to increase stockholder value over the long
term. The Committee and the Board determined to issue the grants
following an assessment of the unvested equity positions of senior executive
officers and competition for talent in STAAR’s industry. The grants
to the Chief Executive Officer, Chief Financial Officer and other named
executive officers are as follows:
|
Name
and Title
|
Shares
Subject to
Option
|
|
Barry
Caldwell
President
and CEO
|
50,000
|
|
Deborah
Andrews
Vice
President and CFO
|
25,000
|
|
Hans
Blickensdoerfer
President
of Europe, Middle East and Africa
|
25,000
|
An
additional 125,000 shares subject to option were awarded to five other key
executives. All of the options have an exercise price of $5.68 per
share, which was the closing price of STAAR’s common stock on The Nasdaq Stock
Market on the date of grant. The options will vest in three equal
installments on each of the first three anniversaries of grant, and expire on
December 14, 2020. STAAR will enter into an Option Agreement with
each of the grantees in the standard form appended to the 2003 Omnibus
Plan.
|
December 17,
2010
|
STAAR
Surgical Company
By:
/s/ Barry
G.
Caldwell
Barry
G. Caldwell
President
and Chief Executive Officer
|