suppltip.htm

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) – July 14, 2009
 
________________________
 
WEST PHARMACEUTICAL SERVICES, INC.

(Exact name of registrant as specified in its charter)
_____________________

     
Pennsylvania
1-8036
23-1210010
(State or other jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
     
101 Gordon Drive, PO Box 645, Lionville, PA
  
19341-0645
(Address of principal executive offices)
  
(Zip Code)

 
(610) 594-2900
(Registrant’s telephone number, including area code)
 
Not Applicable
(Former name or 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 (see General Instruction A.2. below):
 
¨
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.

At a meeting on July 14, 2009, the compensation committee of the board of directors of West Pharmaceutical Services, Inc. adopted a supplemental long-term incentive plan.  The plan provides officers and key employees of the Company an opportunity to receive cash awards based on the achievement of operating-margin improvement targets for the period beginning July 1, 2009 and ending December 31, 2011.  The following table shows the estimated cash payouts for each of the executive officers named in the Company’s 2009 proxy statement who received awards under the plan.
 
   
Estimated Future Payouts Under Supplemental Long-Term Incentive Plan
  
 
Name and Title
  
Threshold
($)
    
Target
($)
    
Maximum
($)
  
Donald E. Morel, Jr.
Chairman of the Board and Chief Executive Officer
     225,000       550,000       1,100,000  
William J. Federici
Vice President and Chief Financial Officer
     75,000       150,000       300,000  
Steven A. Ellers
President and Chief Operating Officer
     112,500       225,000       450,000  
John R. Gailey III
Vice President, General Counsel and Secretary
     37,500       75,000       150,000  

 
All supplemental plan awards will be made under the Company’s shareholder-approved 2007 Omnibus Incentive Compensation Plan.
 

 

 
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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.
 
 
 
WEST PHARMACEUTICAL SERVICES, INC.
 

/s/ John R. Gailey III                                                          
John R. Gailey III, Vice President, General
Counsel and Secretary
 

 
 
July 17, 2009
 

 

 
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