Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
January 12, 2006
Date of Report (Date of earliest event reported):
PURE BIOSCIENCE
(Exact name of registrant as specified in charter)
California (State or other jurisdiction of incorporation) |
|
33-0530289 (IRS Employer Identification No.) |
1725 Gillespie Way, El Cajon, California 92020
(Address of principal executive offices)
(619) 586 8600
Registrants 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 registrant 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))
The Directors of PURE Bioscience have elected D. Michael Sitton to the Board of Directors, effective January 12, 2006. In connection with his appointment to the Board and in accordance with Company policy, the Company granted Mr. Sitton a fully vested option to purchase 100,000 shares of Company stock at an exercise price of $0.85 per share.
PURE has entered into a two-year consulting agreement with Mr. Sitton for domestic and international business development, the compensation for which is a fee of $12,500 per month and an option on two million shares of PURE Bioscience common stock which vests as follows:
Vesting Date Exercise Price Amount Vested |
6/01/06 $1.00 325,000 |
12/01/06 $1.50 325,000 |
06/01/07 $1.75 350,000 |
12/01/07 $2.00 350,000 |
6/01/08 $2.50 325,000 |
12/01/08 $2.75 325,000 |
No family relationships exist between Mr. Sitton and PURE Bioscience, its directors or officers.
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, thereunto duly authorized.
Dated: January 19, 2006
PURE BIOSCIENCE
/s/ MICHAEL L. KRALL
Michael L. Krall, Chief
Executive Officer