SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
January 8, 2013 (January 4, 2013)
Date of Report (date of earliest event reported)
TRANSCEPT PHARMACEUTICALS, INC.
(Exact name of Registrant as specified in its charter)
1003 W. Cutting Blvd., Suite #110
Point Richmond, California 94804
(Address of principal executive offices)
(Registrants telephone number, including area code)
(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):
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On January 4, 2013, the Board of Directors (the Board) of Transcept Pharmaceuticals, Inc. (the Company) approved the 2013 compensation for the Companys executive officers, including those officers who are expected to be the Companys named executive officers for 2013. After considering corporate performance against predetermined goals and objectives, including a decline in the Companys stock price and the failure to meet the primary efficacy endpoint in the Phase 2 clinical trial of TO-2061, management recommended to the Board that no executive cash bonus awards should be paid with respect to performance in 2012. Management further recommended to the Board that no executive salary increases be made with respect to 2013. The Board accepted managements recommendations and the following is a summary of the compensation decisions approved by the Board:
The Company will provide additional information regarding the compensation paid to the named executive officers for fiscal year 2012 in its proxy statement for the 2013 Annual Meeting of Stockholders.
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.