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):  October 4, 2010

PDL BioPharma, Inc.
 
(Exact name of Company as specified in its charter)
 
 
000-19756
(Commission File Number)
 
Delaware
  
94-3023969
(State or Other Jurisdiction of
  
(I.R.S. Employer Identification No.)
Incorporation)
    
 
932 Southwood Boulevard
Incline Village, Nevada  89451
(Address of principal executive offices, with zip code)
 
 
(775) 832-8500
(Company’s telephone number, including area code)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company 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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
 
On October 4, 2010, Karen Wilson, our Vice President of Finance and Principal Accounting Officer, announced that she will be leaving PDL BioPharma, Inc. (the “Company”) in January 2011 to return to California.  Ms. Wilson, who joined the Company in April 2009, was instrumental in helping the Company accomplish many transition-related goals relating to both the spin-off of Facet Biotech Corporation and the Company’s relocation to Nevada.  Ms. Wilson has made a number of significant contributions to the Company, including the winding-up of certain pre-2009 activities and helping establish the infrastructure necessary to facilitate the Company’s accounting and financial reporting going forward.  The Company thanks Karen for her numerous contributions and wishes her continued success in her future ventures.
 
 
 
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
  PDL BIOPHARMA, INC.  
  (Company)  
       
 
By:
/s/ Christopher Stone  
    Christopher Stone  
    Vice President, General Counsel and Secretary  
 
Dated:  October 7, 2010