UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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 3, 2007
GERON CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 0-20859 75-2287752
(State or other jurisdiction (Commission File (IRS Employer
of incorporation) Number) Identification No.)
230 CONSTITUTION DRIVE
MENLO PARK, CALIFORNIA 94025
(Address of principal executive offices, including zip code)
(650) 473-7700
(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):
[ ] 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.
Compensatory Arrangements of Certain Officers
On January 3, 2007, the Compensation Committee (the "Committee") of the
Board of Directors (the "Board") of Geron Corporation (the "Company") approved
(a) increases in annual base salaries for 2007, (b) cash performance bonuses for
2006 and (c) long-term incentive awards for the following principal executive
officer, principal financial officer and named executive officers of the
Company:
2007 2006 Long-Term
Salary New 2007 Cash Incentive Award
Name and Position Increase Base Salary Bonus (1)
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Thomas B. Okarma, Ph.D., M.D. $ 35,000 $ 510,000 $ 256,500 61,416
President and CEO
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Alan B. Colowick, M.D., M.P.H. $ -- $ 425,000 $ 124,300 --
President, Oncology
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David L. Greenwood $ 30,000 $ 395,000 $ 147,800 51,416
Executive Vice President and CFO
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David J. Earp $ 23,000 $ 310,000 $ 86,100 41,416
Senior Vice President, Bus. Dev. and
Chief Patent Counsel
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Melissa Kelly Behrs $ 45,000 $ 305,000 $ 81,900 41,416
Senior Vice President, Oncology
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Jane L. Lebkowski $ 35,000 $ 320,000 $ 85,500 41,416
Senior Vice President, Regenerative
Medicine
--------------------------------------------------- -------------- ---------------- --------------- ------------------
Calvin B. Harley $ 23,000 $ 305,000 $ 88,800 41,416
Chief Scientific Officer
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Note:
(1) The Long-Term Incentive Award represents awards of restricted stock from
the Company's 2002 Equity Incentive Plan as a long-term retention incentive
for certain executive officers. The shares of restricted stock will remain
subject to a repurchase right of Geron until January 3, 2008, at which time
such repurchase right will lapse with respect to 50% of such shares.
Geron's repurchase right will lapse with respect to the balance of the
shares on January 3, 2009. The lapse of Geron's repurchase right is
conditioned on the executive officer continuing to provide services to
Geron through each vesting date.
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.
GERON CORPORATION
Date: January 5, 2007 By: /s/ David L. Greenwood
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David L. Greenwood
Executive Vice President and
Chief Financial Officer