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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) April 27, 2005
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ENZON PHARMACEUTICALS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-12957 22-2372868
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(State or other jurisdiction (Commission File (IRS Identification No.)
of incorporation) Number)
685 Route 202/206, Bridgewater, New Jersey 08807
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (908) 541-8600
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(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:
[ ] Written communication 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 communication pursuant to Rule 14d-2(b) under the Exchange
Act (17 CFR 240.14d-2(b)
[ ] Pre-commencement communication 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
Effective April 21, 2005, Kenneth J. Zuerblis, voluntarily resigned from his
position as Enzon's executive vice president, finance and chief financial
officer, for personal reasons. We announced this resignation on April 21, 2005.
In connection with Mr. Zuerblis' resignation, we entered into a Separation
Agreement with Mr. Zuerblis effective as of April 21, 2005.
Pursuant to the Separation Agreement, Mr. Zuerblis will receive a cash payment
equal to his annual base salary, the pro rata amount of his annual target bonus
(which is 50% of his base salary) for fiscal year 2005, and his annual target
bonus for fiscal year 2006. In addition, the period of time he has to exercise
certain of his options is extended to 18 months; the vesting of some of his
options and restricted stock were accelerated; and he will be reimbursed for his
medical insurance premiums for up to 36 months.
Item 1.02 Termination of a Material Definitive Agreement.
Pursuant to the separation agreement discussed in Item 1.01 above, a majority of
the provisions of Mr. Zuerblis' employment agreement were terminated effective
as of April 21, 2005. The information contained in Section 1.01 above is
incorporated herein by reference.
SIGNATURES
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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.
Dated: April 27, 2005
By: /s/ Craig A. Tooman
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Craig A. Tooman
Executive Vice President,
Strategic Planning
and Corporate Communications