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 13, 2015
PSYCHEMEDICS CORPORATION
(Exact Name of Registrant As Specified In Its Charter)
| Delaware | 1-13738 | 58-1701987 |
| (State or Other Jurisdiction | (Commission File Number) | (I.R.S. Employer |
| of Incorporation) | Identification No.) |
| 125 Nagog Park, Acton, Massachusetts | 01720 |
| (Address of Principal Executive Offices) | (Zip Code) |
(978) 206-8220
(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 Instructions 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 13-e4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| ITEM 1.01 | Entry into a Material Definitive Agreement |
On October 13, 2015, Psychemedics Corporation (the “Company”) and Uplander LLC entered into an amendment (the “Amendment”) to the lease agreement dated October 6, 1992, as amended, (the “Lease”), relating to the lease of office and laboratory space at 5830 and 5832 Uplander Way, Culver City, CA 90230. The Amendment provides for the following:
| · | Extension of the term of the Lease for an additional 5 years, or until December 31, 2020, with an option to extend the term for an additional 2 years, or until December 31, 2022. |
| · | Payment by the Company of monthly base rent of $28,600 from January 1, 2016 through December 31, 2016 |
| · | Rent adjustment for the one year periods commencing January 1, 2017 and each year thereafter during the term (and option term, if applicable), based on changes in the Consumer Price Index |
| ITEM 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant |
The information included in Item 1.01 of this Current Report on Form 8-K is incorporated into this Item 2.03 of this Current Report on Form 8-K by reference
| ITEM 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
| Exhibit No. | Description | |
| 10.1 | Sixth Amendment to Lease dated October 13, 2015 between Uplander LLC and Psychemedics Corporation |
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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.
| PSYCHEMEDICS CORPORATION | |||
| Dated: October 15, 2015 | |||
| By: | /s/ Neil Lerner | ||
| Neil Lerner, Vice President - Finance | |||
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