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Eclipsys Corp (ECLP) SEC Filing 8-K Material Event for the period ending Monday, March 15, 2010

Eclipsys Corp

CIK: 1034088 Ticker: ECLP

 

 

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): March 15, 2010

 

 

Eclipsys Corporation

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   000-24539   65-0632092
(State or other jurisdiction
of incorporation)
  (Commission
File Number)
  (I.R.S. Employer
Identification No.)
Three Ravinia Drive,
Atlanta, Georgia
  30346
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (404) 847-5000

Not Applicable

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:

 

¨ 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 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e)

On March 15, 2010, Eclipsys Corporation (“Eclipsys”) granted long-term performance stock units (“PSUs”) to the Eclipsys Named Executive Officers (as defined in Regulation S-K Item 402(a)(3)) set forth below. The PSU awards were approved by the Compensation Committee of the Board of Directors of Eclipsys and the PSU awards are intended to encourage and reward future long-term performance.

 

Name

   Title    Performance
Stock Units

Philip M. Pead

   President and Chief Executive Officer    25,000

Chris E. Perkins

   Executive Vice President and Chief Financial Officer    50,000

John E. Deady

   Executive Vice President, Client Solutions    37,500

John P. Gomez

   Executive Vice President and Chief Technology Strategy Officer    50,000

The PSU amounts shown are nominal values; each PSU represents a contingent right to receive a number of shares of Eclipsys’ common stock ranging from zero to 2.25, depending upon Eclipsys’ total shareholder return (“TSR”) compared to the TSRs of a group of pre-selected companies in the healthcare technology and software industries over a performance period ending on the third anniversary of the grant date (or, if earlier, a change of control or qualifying termination of employment). Eclipsys TSR performance at the 50th percentile will result in the issuance of one share per unit, performance at the 25th percentile or below will result in issuance of no shares, and performance at the 90th percentile or above will result in issuance of 2.25 shares per unit. Performance between these points will be scaled.

The descriptions of the PSU awards set forth in this Item 5.02(e) are general in nature and are qualified in their entirety by reference to the full text of the form of Performance Stock Unit Agreement attached hereto as Exhibit 10.1.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.

  

Description

10.1    Form of Performance Stock Unit Agreement.


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.

 

    Eclipsys Corporation
Date: March 19, 2010     By:   /s/ Robert M. Saman        
      Name: Robert M. Saman
      Title: Assistant General Counsel and Assistant
Corporate Secretary

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Eclipsys Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2010 10-K Annual Report includes:

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Ticker: ECLP
CIK: 1034088
Form Type: 8-K Corporate News
Accession Number: 0001193125-10-061906
Submitted to the SEC: Fri Mar 19 2010 4:59:46 PM EST
Accepted by the SEC: Fri Mar 19 2010
Period: Monday, March 15, 2010
Industry: Computer Integrated Systems Design
Events:
  1. Event for Officers
  2. Financial Exhibit

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