Unassociated Document
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): June 23, 2010
Brainstorm
Cell Therapeutics Inc.
(Exact
name of registrant as specified in its charter)
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Delaware
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333-61610
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20-8133057
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(State
or other jurisdiction of incorporation)
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(Commission
File No.)
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(IRS
Employer Identification No.)
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110
East 59th
Street
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New
York, New York
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10022
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(Address
of principal executive offices)
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(Zip
Code)
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(212)
557-9000
(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:
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 June
22, 2010, Brainstorm Cell Therapeutics Inc. (the “Company”) announced that Liat
Sossover will be appointed the Company’s Chief Financial Officer. In
connection with Ms. Sossover’s appointment as Chief Financial Officer,
Brainstorm Cell Therapeutics Ltd., a wholly owned subsidiary of the Company,
entered into an Employment Agreement with Ms. Sossover, dated as of June 23,
2010 (the “Employment Agreement”). Under the Employment Agreement,
Ms. Sossover will be paid 32,000 NIS (approximately $8,290) per
month. Ms. Sossover is also entitled to contributions on her behalf
by the Company into a manager’s insurance fund, disability insurance and an
education fund under the Employment Agreement. In addition, the
Company agreed to grant to Ms. Sossover an option to purchase 400,000 shares,
subject to the Board of Director’s approval, of the Company’s common stock under
the Company’s Amended and Restated 2004 Global Share Option Plan. The
option to be granted to Ms. Sossover will vest and become exercisable,
subject to continued employment, as to 33.3% of the shares thereunder on
each anniversary of the grant date until fully vested and exercisable on the
third anniversary of the grant date. The option shall expire on the
tenth anniversary of the grant date.
From 2001
until June 2010, Ms. Sossover served as the Vice President of Finance of
ForeScout Technologies, International. In such role, Ms. Sossover
managed the finance and accounting divisions, prepared financial statements and
oversaw the investment policies of such company.
Ms.
Sossover is 42 years old. There are no family relationships between Ms.
Sossover and any director or other executive officer of the
Company.
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.
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June
23, 2010
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Brainstorm
Cell Therapeutics Inc.
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By:
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/s/
Rami Efrati
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Rami
Efrati
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Chief
Executive Officer
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