8-KOther Events

BIOGEN INC. 8-K Report, Corporate Update (May 29, 2008)

Filed May 29, 2008For Securities:BIIB

Summary

Biogen Idec Inc. filed an 8-K on May 29, 2008, to provide an update on equity awards and shares available for future awards. This filing serves to reconcile information presented in their 2007 Annual Report on Form 10-K and their definitive proxy statement for the 2008 Annual Meeting of Stockholders. The primary purpose is to inform shareholders about the status of equity compensation plans ahead of the stockholder vote on the proposed 2008 Omnibus Equity Plan. The key information provided is a comparative table showing outstanding equity awards (options, RSUs, RSAs) and the shares available for future grants as of December 31, 2007, and updated as of May 7, 2008. This allows investors to see the dilutionary impact of existing equity awards and the remaining capacity for future grants.

Key Highlights

  • 1Biogen Idec is seeking stockholder approval for its 2008 Omnibus Equity Plan at the 2008 Annual Meeting of Stockholders.
  • 2The 8-K reconciles equity award information between the 2007 10-K and the 2008 Proxy Statement, updating figures as of May 7, 2008.
  • 3As of May 7, 2008, there were 19,607,724 outstanding equity awards (options and RSUs).
  • 4The average strike price for outstanding options was $50.03 as of May 7, 2008.
  • 5There were 5,661,259 unvested Restricted Stock Units (RSUs) as of May 7, 2008.
  • 6The total shares available for future awards under the 2005 Omnibus Plan and 2006 Directors Plan was 5,778,754 as of May 7, 2008.

Frequently Asked Questions

The primary purpose of this 8-K filing is to provide shareholders with updated information regarding Biogen Idec's equity awards and shares available for future grants. It reconciles data from previous filings and informs investors about the company's equity compensation status ahead of a stockholder vote on the 2008 Omnibus Equity Plan.

The 2008 Omnibus Equity Plan is a proposed equity compensation plan that Biogen Idec is asking its stockholders to approve at the 2008 Annual Meeting. Specific details of the plan are included as an appendix to the company's 2008 Proxy Statement.

As of May 7, 2008, there were 5,778,754 shares available for future awards under Biogen Idec's 2005 Omnibus Plan and 2006 Non-Employee Directors Equity Plan.

As of May 7, 2008, Biogen Idec had a total of 19,607,724 outstanding equity awards, comprising unexercised stock options and unvested Restricted Stock Units (RSUs).