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): | August 17, 2006 |
Sipex Corporation
__________________________________________
(Exact name of registrant as specified in its charter)
Delaware | 000-27892 | 04-6135748 |
_____________________ (State or other jurisdiction |
_____________ (Commission |
______________ (I.R.S. Employer |
of incorporation) | File Number) | Identification No.) |
233 South Hillview Drive, Milpitas, California | 95035 | |
_________________________________ (Address of principal executive offices) |
___________ (Zip Code) |
Registrants telephone number, including area code: | 408-934-7500 |
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 1.01 Entry into a Material Definitive Agreement.
On August 17, 2006, the Board of Directors of Sipex Corporation ("Sipex") approved the grants of options to purchase 10,000 shares of Sipex’s common stock (the "Options") at an exercise price of $3.35 per share, which was the closing price of Sipex’s common stock as listed on the Pink Sheets on that date, to each of the following non-employee members of the Board of Directors: Joseph Consoli, John Arnold, Brian Hilton, Doug McBurnie, Lionel Olmer and Thomas Redfern. The Options will vest over a one-year period in four (4) equal installments starting from July 26, 2006. These Options will be granted pursuant to the terms of Sipex’s form of Stand Alone Option Grant 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.
Sipex Corporation | ||||
August 21, 2006 | By: |
Clyde R. Wallin
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Name: Clyde R. Wallin | ||||
Title: Chief Financial Officer and Senior VP of Finance |