Current Report Filing (8-k)
13 October 2016 - 8:32AM
Edgar (US Regulatory)
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): October 5, 2016
AKERS
BIOSCIENCES, INC.
(Exact
name of registrant as specified in its charter)
New
Jersey
|
|
333-190456
|
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22-2983783
|
(State
or other jurisdiction
of
incorporation)
|
|
(Commission
File Number)
|
|
(IRS
Employer
Identification
No.)
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201
Grove Road
Thorofare,
NJ 08086
(Address
of Principal Executive Offices)
(
856)
848-2116
Registrant’s
telephone number, including area code
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
1.01 Entry Into a Material Definitive Agreement
Effective
October 5, 2016, the Board of Directors (the “Board”) of Akers Biosciences, Inc. (the “Company”) amended
(the “Amendment”), upon recommendation from the Compensation Committee of the Board, the Akers Biosciences, Inc. First
Amended and Restated 2013 Incentive Stock and Award Plan (the “Plan”). The Amendment increases the number of authorized
shares of common stock subject to the Plan by 30,000 shares, or 3.75% of the amount of shares previously authorized under the
Plan.
The
description of the Plan and the Amendment set forth above are qualified in their entirety by reference to the full text of the
Plan and Amendment, filed as Exhibits 10.1 and 10.2, respectively, to this Current Report on Form 8-K and incorporated herein
by reference.
The
disclosure provided in Item 5.02 of this Report is hereby incorporated by reference into this Item 1.01.
Item
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
of Certain Officers
Effective
October 5, 2016, the Board approved certain incentive based salary adjustments (the “Salary Adjustments”) for Raymond
Akers, the Company’s Chief Scientific Director and member of the Board. The Salary Adjustments will, upon the achievement
of certain milestones by Mr. Akers between October 5, 2016 and December 31, 2016, cause Mr. Akers’ salary to increase up
to $200,000 above his current salary. Mr. Akers will receive his increased salary on a prorated basis in 2016 only to the extent
Mr. Akers achieves said milestones prior to December 31, 2016, each milestone representing a portion of the $200,000 salary increase,
and his increased salary will remain in effect going forward.
Item
9.01 Financial Statements and Exhibits.
(c)
Exhibits
Exhibit
No.
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Description
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10.1
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Amended
and Restated 2013 Incentive Stock and Award Plan (incorporated herein by reference to Exhibit 10.1 to the Company’s
Current Report on Form 8-K filed with the Securities and Exchange Commission on January 9, 2015).
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10.2*
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First
Amendment to the Amended and Restated 2013 Incentive Stock and Award Plan
.
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*Filed
herewith
SIGNATURE
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.
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AKERS
BIOSCIENCES, INC.
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Date:
October 12, 2016
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By:
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/s/
John Gormally
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John
Gormally
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Chief
Executive Officer
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