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): January 26, 2007 (January 23, 2007)

VNUS Medical Technologies, Inc.

 

Delaware		000-50988		94-3216535
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification Number)

5799 Fontanoso Way
San Jose, California 95138
(408) 360-7200

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 1.01 Entry into a Material Definitive Agreement

Cash Bonus for Performance in 2006

     On January 23, 2007, the Compensation Committee approved the following cash bonus payments to executive officers for achieving performance during 2006 of goals that were established by the Compensation Committee in January 2006, or, in the case of Mr. Sancheti, after Mr. Sancheti joined the Company. The cash bonus plan for 2006 consisted of payment of a percentage of year-end base salary based on achievement of target revenue goals, key corporate activity goals, operating profit objectives and officer-specific goals.

Executive Officer		Title		Bonus
Brian E. Farley		President and Chief Executive		$46,309
		Officer
Timothy A. Marcotte		Chief Financial Officer and Vice		$24,616
		President, Finance and Administration
Scott H. Cramer(1)		Senior Vice President, U.S. Sales		$31,781
		and Account Services
Lian X. Cunningham		Medical Director and Vice President,		$20,679
		Clinical Research
Charlene A. Friedman		Vice President, General Counsel and		$24,125
		Secretary
Robert G. McRae(2)		Vice President, Business Development		$15,142
Dennis Rosenberg		Vice President, Marketing and		$24,252
		International Sales
Mohan Sancheti		Vice President, Manufacturing		$10,418

	(1)		Includes quarterly bonus amounts paid to Mr. Cramer under the 2006 cash bonus plan.
	(2)		Includes a discretionary payment by the Compensation Committee, based on performance during 2006 relating to an internal development project.

SIGNATURE

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.

Date: January 26, 2007