form8k120109.htm
 
 
 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): November 24, 2009
 
 
NOVADEL PHARMA INC.
(Exact Name of Registrant as Specified in Its Charter)

 
         
Delaware
  
001-32177
  
22-2407152
(State or other jurisdiction
of incorporation or organization)
  
(Commission File No.)
  
(I.R.S. Employer
Identification No.)
 
 
25 Minneakoning Road
Flemington, New Jersey 08822
(Address of principal executive offices) (Zip Code)
 
(908) 782-3431
(Registrant’s telephone number, including area code)
 
N/A
(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 (see General Instruction A.2. below):
 
 
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
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.
 
On November 24, 2009, the Compensation Committee of the Board of Directors of NovaDel Pharma Inc. (the "Company") approved the proposal to grant 700,000 stock options, in accordance with the Company’s 1998 Stock Option Plan, to Dr. David H. Bergstrom.  These options are exercisable in equal monthly installments over a period of twenty-four months and have an exercise price of $0.23 per share (equal to the fair market value on the date of grant, which is the last closing price on November 23, 2009) and will expire on November 24, 2014.
 
 
 

 
 
 

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.

 
 
 
 
NovaDel Pharma Inc.
   
By:
/s/ Steven B. Ratoff
Name:
Steven B. Ratoff
Title:
Chairman, Interim Chief Financial Officer, Interim President and Chief Executive Officer
 

 Date:  December 1, 2009