IDM Pharma, Inc. (IDMI)

[negger0]

It looks like it's part of their restructuring plan or perhaps a plan to hand out shares if any employee gets terminated (hopefully from a buyout - new owners) but thats just my guess.

Form 8-K for IDM PHARMA, INC.


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15-Jan-2008

Entry into a Material Definitive Agreement



Item 1.01. Entry into a Material Definitive Agreement.
On January 10, 2008, the Board of Directors (the "Board") of IDM Pharma, Inc. (the "Company") adopted a 2008 Retention Compensation Plan (the "Plan") for specified executive and non-executive officers of the Company. The specified executive officers of the Company eligible to receive payments and awards under the Plan, as well as a description of the Plan as it applies to the specified executive and non-executive officers of the Company, are set forth below. Specified Executive Officers:
If a specified executive officer is terminated without cause prior to August 31, 2008 (8 months), the executive officer will be entitled to receive a lump sum cash payment equal to his base salary, less standard deductions and withholding, for the period from the date of termination through August 31, 2008 (see the column in the table below labeled "Stay-On Term"). This cash payment would be in addition to any payment to which the specified executive officer is entitled under his employment agreement.
Upon a change of control of the Company, a cash bonus as noted in the column in the table below labeled "Change of Control" below will be payable to those specified executive officers who are employees of the Company immediately prior to the closing of such change of control .
The specified executive officers will also be granted a deferred issuance restricted stock unit award as noted in the column in the table below labeled "RSUs". The shares of common stock subject to each award vest one year from the date of grant with vesting accelerated in connection with a change of control or termination without cause, and will be issued upon the earlier of (a) the 60-month anniversary of the date of grant, (b) the specified executive officer's termination without cause, or (c) the executive's death or disability.

http://biz.yahoo.com/e/080115/idmi8-k.html