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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): January 15, 2010
ROCKWELL MEDICAL TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
         
Michigan   000-23661   38-3317208
         
(State or other jurisdiction   (Commission   (IRS Employer
of incorporation)   File Number)   Identification No.)
         
  30142 Wixom Road, Wixom, Michigan   48393  
         
  (Address of principal executive offices)   (Zip Code)  
     
Registrant’s telephone number, including area code (248) 960-9009
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 (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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
     On January 15, 2010, the Compensation Committee of the Board of Directors of Rockwell Medical Technologies, Inc. (the “Company”) approved salary increases (effective January 16, 2010), discretionary cash bonuses for 2009 performance and stock option grants for the Company’s executive officers, as follows:
                                     
                New Annual   Prior Annual    
Executive   Position   Bonus   Salary   Salary   Option Grant
Robert Chioini
  Chief Executive Officer   $ 116,250     $ 495,000     $ 465,000     $ 150,000  
Thomas Klema
  Chief Financial Officer     68,750       295,000       275,000       60,000  
Dr. Richard Yocum
  VP Clinical Development     58,000       298,000       278,000       75,000  
Dr. Ajay Gupta
  Chief Scientific Officer     38,000       348,000       298,000       60,000  
     The stock options were granted under the Company’s 2007 Long Term Incentive Plan using the Form of Nonqualified Stock Option Agreement (Employee Version) previously disclosed and filed by the Company with the Securities and Exchange Commission on Form 8-K on December 20, 2007. The options have an exercise price of $7.13, the closing market price on January 15, 2010. The options become exercisable in three equal annual installments beginning January 15, 2011, and the options will become immediately exercisable upon a change in control of the Company or the recipient’s death or disability. The options will expire on January 15, 2020.

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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.
         
  ROCKWELL MEDICAL TECHNOLOGIES, INC.
 
 
Date: January 20, 2010  By:   /s/ Thomas E. Klema    
    Thomas E. Klema   
    Its: Chief Financial Officer   
 

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