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 6, 2014
INNOVUS PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
NEVADA
(State or Other Jurisdiction of Incorporation)
000-52991 87-0324697
(Commission File Number) (IRS Employer Identification No.)
4275 Executive Square, Suite 200, La
Jolla CA 92037
(Address of principal executive offices) (Zip code)
858-964-5123
(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 (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 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 February 6, 2014, and pursuant to the employment agreement, dated January 22, 2013, by and between the Company and Dr. Bassam Damaj, the Company’s President and Chief Executive Officer, the Board of Directors of the Company approved a bonus of $281,250 for Dr. Damaj equal to seventy-five percent of his annual base salary for 2013 of $375,000. The bonus will be paid in fully vested restricted stock of units. The restricted stock units will be settled with a like number of 852,272 common shares of the Company’s common stock on the earliest of (1) the termination of Dr. Damaj’s employment, (2) a change in control of the Company, or (3) February 6, 2021. The calculation for Dr. Damaj’s grant was as follower: (a) 2013 Base Salary ($375,000) times percentage of bonus (.75) times closing price of the Company’s common stock on the OTC Bulletin Board on February 6, 2014 ($0.33) equals 852,272 shares of the Company’s common stock.
Item 8.01 Other Events.
On February 10, 2014, Innovus Pharmaceuticals, Inc., (the “Company”) provided an update to its corporate presentation. The presentation is currently available on the Company’s website and filed herewith as Exhibit 99.1. The Company does not undertake to update this presentation.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 99.1 | Corporate Presentation, dated February 10, 2014 |
SIGNATURES
In accordance with the requirements of the Exchange Act, the Registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| Date: February 10, 2014 | ||
| Innovus Pharmaceuticals, Inc. | ||
| By | /s/ Bassam Damaj | |
| President and Chief Executive Officer | ||
EXHIBIT INDEX
| Exhibit No. | Description | |
| 99.1 | Corporate Presentation, dated February 10, 2014 |