Filing

 

 

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) January 31, 2006

ADVENTRX Pharmaceuticals, Inc.

(Exact name of registrant as specified in its charter)

Delaware
(State or other jurisdiction of incorporation)

001-32157 (Commission File Number)		84-1318182 (IRS Employer Identification No.)

6725 Mesa Ridge Road, Suite 100
San Diego, California 92121
(Address of principal executive offices) (Zip Code)

(858) 552-0866
(Company’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:

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))

 

 

Item 1.01 Entry Into A Material Definitive Agreement

     On January 31, 2006, the Compensation Committee (the “Compensation Committee”) of the Board of Directors of ADVENTRX Pharmaceuticals, Inc. (the “Company”) approved increases to the annual base salaries (retroactively effective as of January 1, 2006) of certain of the Company’s officers after a review of performance and competitive market data. The following table sets forth the annual base salary of the officers that received an increase in their annual base salary for 2006 and 2005:

NAME AND POSITION		YEAR				BASE SALARY
Joan M. Robbins, Ph.D.
Chief Technology Officer, Executive Vice			2006			$	250,000
President			2005			$	230,000
Carrie E. Carlander
Chief Financial Officer, Vice President, Finance,			2006			$	200,000
Secretary and Treasurer			2005			$	180,000
Brian M .Culley			2006			$	200,000
Vice President, Business Development			2005			$	170,000

     Also on January 31, 2006, the Compensation Committee approved incentive and recognition bonus grants of ten-year non-qualified stock options to certain of the officers of the Company pursuant to the Company’s 2005 Equity Incentive Plan. The following table sets forth information regarding these grants:

Vesting

Number of Shares

Commencement

Name

Subject to Option(1)

Date

Exercise Price

Joan M. Robbins

100,000

January 1, 2006

$4.75

Carrie E. Carlander

80,000

January 1, 2006

$4.75

Brian M .Culley

80,000

January 1, 2006

$4.75

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.