e8vk
Table of Contents

 
 
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): February 26, 2008
NUVASIVE, INC.
(Exact name of registrant as specified in its charter)
                 
  Delaware     000-50744     33-0768598  
  (State or Other Jurisdiction of
Incorporation)
    (Commission File
Number)
    (I.R.S. Employer
Idenitifcaiton Number)
 
 
4545 Towne Centre Court, San Diego, California 92121
(Address of principal executive offices, with zip code)
(858) 909-1800
(Registrant’s telephone number, including area code)
n/a
(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))
 
 

 


TABLE OF CONTENTS

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appoint of Certain Officers; Compensatory Arrangements with Certain Officers
SIGNATURES


Table of Contents

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appoint of Certain Officers; Compensatory Arrangements with Certain Officers
Fiscal 2008 Bonus Plan
On February 26, 2008, the Compensation Committee of the Board of Directors (the “Committee”) of NuVasive, Inc. (the “Company”) adopted metrics pursuant to which performance bonuses for fiscal year 2008 may be awarded to certain of the Company’s key employees, including each of the Company’s named executive officers (as defined in Item 402(a)(3) of Regulation S-K).
The named executive officers will be eligible for the following target performance bonuses upon the Company’s achievement of the specified performance milestones:
             
        Target Bonus as
        a Percentage of
Name   Position   Salary
Alexis V. Lukianov  
Chairman and Chief Executive Officer
    75 %
Keith C. Valentine  
President and Chief Operating Officer
    75 %
Kevin C. O’Boyle  
Executive Vice President and Chief Financial Officer
    50 %
Patrick Miles  
Executive Vice President, Marketing and Product Development
    75 %
Jeffrey Rydin  
Senior Vice President, U.S. Sales
    75 %
The Committee will have the discretion, based on personal and/or Company performance, to (i) award performance bonuses even if the Company does not achieve the specified performance milestones or (ii) award performance bonuses in excess of the target performance bonus if the specified performance milestones are achieved or surpassed.
Fiscal 2007 Bonus Awards
In addition, the Committee awarded the following performance bonuses, in accordance with the metrics previously adopted by the Committee, to the Company’s named executive officers with respect to fiscal 2007:
             
        Fiscal
Name   Position   2007 Bonus
Alexis V. Lukianov  
Chairman and Chief Executive Officer
  $ 500,000  
Keith C. Valentine  
President and Chief Operating Officer
  $ 375,000  
Kevin C. O’Boyle  
Executive Vice President and Chief Financial Officer
  $ 240,000  
Patrick Miles  
Executive Vice President, Marketing and Product Development
  $ 300,000  
Jeffrey Rydin  
Senior Vice President, U.S. Sales
  $ 275,000  

-2-


Table of Contents

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.
         
  NUVASIVE, INC.
 
 
Date: February 28, 2008  By:   /s/ Alexis V. Lukianov    
    Alexis V. Lukianov   
    Chairman and Chief Executive Officer   
 

-3-