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NEPHROGENEX, INC. FILES (8-K) Disclosing Change in Directors or Principal Officers(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (e) On September 19, 2014, the Board of Directors (the "Board") of NephroGenex, Inc. (the "Company"), at the recommendation of the Company's Compensation Committee based on the study and suggestions of an independent compensation consultant, approved the Company's new non-executive director compensation policy (the "Policy") which will be effective on October 1, 2014. Under the Policy, as of October 1, 2014, the annual cash retainer payable to non-executive members of the Board including meeting fee shall be $40,000. In addition, the Chairman of each Committee will receive additional compensation as follows: Audit $ 15,000 Compensation $ 10,000 Nominating and Governance $ 7,500 The Chairman of the Board will also receive $25,000. The value of the annual stock option award shall be $37,500 with the number of stock options to be determined based on a Black-Scholes calculation on the date of the grant. All options will vest on the first anniversary of the grant date. Newly elected or appointed directors will receive two times the regular annual option grant at the time of their election. It is contemplated that non-employee directors grants will be made annually at the time of the Registrant's annual meeting. At that time, consideration may also be given to adjust the compensation of the most recently elected director to reflect the new policy. 2-------------------------------------------------------------------------------- |