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) September 26, 2007
A.P. Pharma,
Inc.
(Exact name of registrant as
specified in its charter)
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Delaware
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000-16109
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94-2875566
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(State or other
jurisdiction
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(Commission
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(I.R.S. Employer
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of incorporation)
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File Number)
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Identification No.)
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123 Saginaw
Drive
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Redwood
City
CA
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94063
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(Address of principal
executive offices)
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(Zip Code)
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Registrant's telephone number, including area code (650)
366-2626
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 (see General Instruction A.2. below):
[ ] 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)
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[ ]
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Pre-commencement communications pursuant to Rule 14d-2(b) under
the
Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement communications pursuant to Rule 13e-4(c) under
the
Exchange Act (17 CFR 240.13e-4(c))
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INFORMATION TO BE
INCLUDED
IN THE REPORT
ITEM 5.02 Departure of Directors or Certain Officers; Election
of
Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain
Officers.
On September 26, 2007, the Board of Directors of the Registrant approved
the following changes to the compensation of Gregory Turnbull, President
and
Chief Executive Officer, in consideration for Mr. Turnbull devoting
substantially full-time to his position with the Registrant, rather than
the
approximately half-time that had previously been contemplated: Mr.
Turnbull will be paid a one-time payment of $190,000 for his services for
the 12
months ending October 1, 2007, and effective October 1, 2007, Mr. Turnbull’s
annual base compensation will be increased to $388,000.
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.
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A.P. Pharma, Inc.
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Date: October 1, 2007
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/S/ Michael O’Connell
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Michael O’Connell
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Chief Financial Officer and Chief Operating Officer
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