Stockholders in Irish drug developer Amarin Corp PLC, whose Stonington research led to a patent for a synthetic fish-oil formulation to fight heart disease, have approved pumping an extra $120 million in stock into the bonus pool for Amarin officers and directors, a regulatory filing shows.
At their July 10 annual meeting, stockholders voted an additional eight million shares of Amarin ordinary shares — with a par value of 50 cents each — to be put into the company’s 2011 stock incentive plan, according to its latest 8-K filing with the Securities and Exchange Commission.
The company board had previously OK’d the move but awaited formal stockholder approval, the filing said.
The number of shares previously earmarked for the stock-incentive pool wasn’t revealed. An Amarin spokesman did not immediately respond Tuesday for comment.
Trading late Tuesday morning at $14.86 a share, the additional stock award is valued at $120 million.
Before and since formally receiving its patent for its synthetic form of heart-healthy omega-3 fatty acid, Amarin has been the steady subject of takeover speculation in the bioscience industry.
