UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
______________________________________________
FORM 11-K
______________________________________________
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the fiscal year ended
December 31, 2018
OR
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¨
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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For the transition period from
to
Commission File Number: 001-35006
______________________________________________
SPECTRUM PHARMACEUTICALS, INC.
(Exact name of registrant as specified in its charter)
______________________________________________
A. Full title of the plan and the address of the plan, if different from that of the issuer named below:
Spectrum Pharmaceuticals, Inc. 401(k) Plan
B. Name of the issuer of the securities held pursuant to the plan and the address of its principal executive office:
Spectrum Pharmaceuticals, Inc.
11500 South Eastern Avenue, Suite 240
Henderson, Nevada 89052
Spectrum Pharmaceuticals, Inc. 401(k) Plan
Table of Contents
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Financial Statements:
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Supplemental Information:
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Report of Independent Registered Public Accounting Firm
To the Administrative Committee and Plan Participants of
The Spectrum Pharmaceuticals, Inc. 401(k) Plan:
Opinion on the Financial Statements
We have audited the accompanying statements of net assets available for benefits of the Spectrum Pharmaceuticals, Inc. 401(k) Plan (the “Plan”) as of
December 31, 2018
and
2017
, and the related statement of changes in net assets available for benefits for the year ended
December 31, 2018
and the related notes and supplemental schedules (collectively referred to as the
financial statements)
. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of
December 31, 2018
and
2017
, and the changes in net assets available for benefits for the year ended
December 31, 2018
in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating, the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
Supplemental Information
The supplemental information in the accompanying schedules of Assets (Held at End of Year) and of Delinquent Participant Contributions at
December 31, 2018
, have been subjected to the audit procedures performed in conjunction with the audit of the Plan’s financial statements. The supplemental information is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.
/s/ Raimondo Pettit Group
We have served as the Plan's auditor since 2012.
Torrance, California
June 24, 2019
Spectrum Pharmaceuticals, Inc. 401(k) Plan
Statements of Net Assets Available for Benefits
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December 31,
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2018
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2017
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ASSETS
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Investments, at fair value
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Registered investment companies
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$
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13,967,250
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$
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14,329,929
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Spectrum Pharmaceuticals, Inc. common stock fund
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4,030,057
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7,520,724
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Total investments at fair value
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17,997,307
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21,850,653
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Common/collective trust, at contract value
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951,553
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893,293
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Total investments
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18,948,860
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22,743,946
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Receivables:
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Employer contributions
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81,281
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71,638
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Participant contributions
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—
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43,355
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Notes receivable from participants
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272,826
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384,774
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Total receivables
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354,107
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499,767
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NET ASSETS AVAILABLE FOR BENEFITS
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$
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19,302,967
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$
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23,243,713
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The accompanying notes are an integral part of these financial statements.
Spectrum Pharmaceuticals, Inc. 401(k) Plan
Statement of Changes in Net Assets Available for Benefits
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Year ended, December 31, 2018
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ADDITIONS TO NET ASSETS ATTRIBUTED TO:
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Contributions:
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Participant deferrals
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$
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2,262,694
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Participant rollovers
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5,902
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Employer matching contributions
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1,173,033
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3,441,629
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Investment income (loss):
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Interest and dividends
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822,491
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Other income
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2,140
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Net depreciation in fair value of investments
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(5,683,735
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)
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(4,859,104
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Interest income from notes receivable from participants
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19,340
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Total deductions
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(1,398,135
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)
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DEDUCTIONS TO NET ASSETS ATTRIBUTED TO:
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Distributions to participants
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2,482,547
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Administrative expenses
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60,064
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Total deductions from net assets
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2,542,611
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NET DECREASE IN NET ASSETS
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(3,940,746
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NET ASSETS AVAILABLE FOR BENEFITS, AT BEGINNING OF YEAR
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23,243,713
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NET ASSETS AVAILABLE FOR BENEFITS, AT END OF YEAR
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$
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19,302,967
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The accompanying notes are an integral part of these financial statements.
Spectrum Pharmaceuticals, Inc. 401(k) Plan
Notes to Financial Statements
December 31, 2018
1. Description of the Plan
The following description of the Spectrum Pharmaceuticals, Inc. 401(k) Plan (the “Plan”) is only provided for general information purposes for this Form 11-K filing. Participants should refer to the Plan Document for a more complete description of the Plan’s provisions.
General
The Plan is a defined contribution pension plan covering eligible employees of Spectrum Pharmaceuticals, Inc. (the “Company” or “Spectrum”) as defined in the Plan Document. The Plan was adopted January 1, 1990, and established for the purpose of providing retirement benefits for eligible employees of the Company. The Plan is subject to regulation under the Employee Retirement Income Security Act of 1974 (“ERISA”) and the qualification provisions of the Internal Revenue Code (the “Code”).
Administration
In January 2018, Joseph W. Turgeon ("Mr. Turgeon"), Chief Executive Officer and Keith McGahan, Senior Vice President and Chief Legal Officer were designated as the trustees of the Plan. In June 2019, Mr. Turgeon was designated as the Audit Committee Chair of the Plan. MG Trust Company, LLC, (“MG Trust”) serves as the account custodian for the Plan. Digital Retirement Solutions, Inc. (“DRS”) performs administrative and record keeping services for the Plan.
Eligibility
All Company employees are eligible to participate in the Plan, provided the employee has completed three months of employment. An eligible employee may enter the Plan on the first day of the month following his or her satisfaction of the eligibility requirements.
In the event of the Company's acquisition of a business, the employees of the newly acquired entity are given credit for the years of service earned prior to the Company’s ownership. If this credit for prior service allows such employees to meet Plan eligibility requirements, each has the option of participating in the Plan on the first day of the month following the business acquisition date.
Contributions
Each year, participants may elect to make pre-tax contributions up to 75% of their eligible compensation, as defined in the Plan. In addition, participants may elect to make after-tax (Roth) contributions up to 75% of their eligible compensation. Compensation deferrals cannot exceed the maximum deferral, as determined by the IRS each year. Such deferral limitation was $18,500 and $18,000 in
2018
and
2017
, respectively. Employees who attained the age of 50 before the end of the plan year, were eligible to make additional catch-up contributions of up to $6,000 in
2018
and
2017
, respectively. Participants may also make rollover contributions into the Plan from other qualified plans.
The Company provides matching contributions (generally in the form of Company stock), under a Safe Harbor arrangement, equal to 100 percent of the first three percent of eligible compensation deferred by a participant and 50 percent of the next two percent of eligible compensation deferred by a participant. The Company’s matching contribution made on behalf of any participant for any Plan year cannot exceed four percent of their eligible compensation. The Company has the right under the Plan to discontinue or modify its matching contributions at any time. The value of the Company’s aggregate matching contribution was
$1,173,033
for the year ended
December 31, 2018
. Additional amounts may be contributed at the discretion of the Company’s Board of Directors.
Participant Accounts
DRS maintains an account in the name of each participant. Each eligible participant’s account is credited with (a) the participant’s contributions, (b) the Company’s Safe Harbor matching contributions, and (c) an allocation of interest, dividends and any change in the market value of the various investment funds. Each eligible participant’s account is charged with any withdrawals or distributions requested by the participant and an allocation of administrative expenses, if applicable. Allocations are based on the ratio that each participant’s account balance in the fund bears to the total account balances of all participants in the respective fund.
Spectrum Pharmaceuticals, Inc. 401(k) Plan
Notes to Financial Statements (Continued)
Investment Options
Participants direct the investment of their contributions and any subsequent changes made to the Company’s matching contributions (in the form of Spectrum's common stock) into various investment options offered by the Plan. These options include numerous registered investment companies, a common/collective trust, and Spectrum’s common stock. Participants may change their investment elections at any time for both existing account balances and future contributions.
Vesting
Participant contributions and Company Safe Harbor matching contributions are fully vested when made.
Distributions and Payments of Benefits
On termination of service due to death, disability, retirement, or other reasons, a participant may receive the value of the vested interest in his or her account as a lump-sum distribution, or as directed by the participant in accordance with the Plan's provisions. The Plan also permits in-service withdrawals for participants attaining certain age requirements and distributions for hardships, as defined in the Plan Document.
Forfeitures
Although participant contributions and the Company's Safe Harbor matching contributions are fully vested at all times, forfeitures could result from the Company's discretionary contributions and certain excess matching. Excess Company matching results in a credit to the Plan and are held in a separate account for the payment of Plan administrative expenses or allowed employer contributions. During the year ended
December 31, 2018
, no forfeitures were used. At
December 31, 2018
and
2017
, there were no forfeitures held in this account.
Investment Management Fees and Operating Expenses
Investment management fees and operating expenses charged to the Plan for investments in the various funds are deducted from the income earned on a daily basis and are reflected as a component of the net appreciation/(depreciation) in the fair value of investments. Effective January 1, 2015, an ERISA Investment Advisory Agreement was entered into whereby rebates from certain fund investments are deposited into a separate account to be used to pay investment advisory fees and other revenue sharing is credited to the Plan to offset administrative expenses. Such amounts are reported in administrative expenses and other income, rather than in net appreciation/(depreciation). As of
December 31, 2018
, there was approximately $443 in Plan assets designated to pay Plan investment advisory fees.
Administrative Expenses
The compensation or fees of accountants, counsel and other specialists and any other costs of administering the Plan are generally paid by the Company (see
Note 4
). As discussed above, beginning in 2015, there was a change in the reporting of certain investment advisory expenses in the financial statements. Administrative expenses that are not paid by the Company are paid by the Plan. Administrative expenses for the year ended
December 31, 2018
paid by the Plan were
$60,064
and are included in administrative expenses in the Plan's financial statements.
Plan Termination
Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan, subject to the provisions of ERISA. In the event of Plan termination, any unvested amounts of Plan participants would become fully vested.
Notes Receivable from Participants
Loans to participants are secured by the participant’s account balance and may not exceed the lesser of 50% of the participant’s account balance or $50,000 in the aggregate for any individual participant. Loans bear interest at fixed annual rates, as determined by the Plan trustees, that are the prime interest rate plus two percent on the date the loan is processed. At
December 31, 2018
and
2017
, the annual interest rate of all loans outstanding was between 5.25% and 10.25%. Principal and interest are paid ratably through payroll deductions over a term not to exceed five years, unless the loan qualifies as a home loan, in which
Spectrum Pharmaceuticals, Inc. 401(k) Plan
Notes to Financial Statements (Continued)
case the term may not exceed 15 years. A participant applying for a loan through the Plan will be charged a $125 loan application fee. The loan application fee is nonrefundable and will be used to offset the administrative expenses associated with the loan.
2. Summary of Significant Accounting Policies
Basis of Accounting
The Plan’s financial statements are prepared on the accrual basis, in conformity with generally accepted accounting principles in the United States of America ("U.S. GAAP").
The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic No. 962
Plan Accounting Defined Contribution Pension Plans
, requires investment contracts held by a defined-contribution plan to be reported at fair value, except for fully benefit-responsive investment contracts, which are reported at contract value. Contract value is the relevant measure for the portion of the net assets available for benefits of a defined contribution plan attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan.
Use of Estimates
The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein, and disclosure of contingent assets and liabilities at the date of the financial statements. Significant estimates are made in determining fair value of investments, consequently actual results could differ from those estimates.
Investment Valuation and Income Recognition
The Plan’s investments are stated at fair value with the exception of the Wells Fargo Stable Value Fund (a common/collective trust fund) which is stated at its contract value. See
Note 3
for discussion of fair value measurements.
Purchases and sales of securities are recorded on a trade date basis, dividends are recorded on the record date and interest income is recorded on the accrual basis. Net appreciation (depreciation) includes the Plan's realized/unrealized gains and losses on investments purchased, sold, and held during the year.
Fully Benefit-Responsive Investment Contract
One of the investment options offered by the Plan, the Wells Fargo Stable Value Fund M (the “Stable Value Fund”), is a common collective trust that is fully invested in Wells Fargo Stable Return Fund G, which is fully invested in wrap contracts deemed to be fully benefit-responsive and therefore the Fund is stated at contract value. The fixed income portfolio consists of investment grade fixed income securities, primarily U.S. Treasury, agency, corporate, mortgage-backed, and asset-backed. Contract value, as reported to the Plan by Wells Fargo Bank, represents contributions made under the contract, credited with earnings, and charged for participant withdrawals and administrative expenses.
There are no reserves against contract value for credit risk of the contract issuer or otherwise. Contract value at
December 31, 2018
and
2017
, as reported by Wells Fargo was
$951,553
and
$893,293
, respectively. The crediting interest rate is based on a formula agreed upon with the issuer but it may not be less than zero percent. Such interest rates are reviewed on a periodic basis for resetting. At
December 31, 2018
and
2017
, the average crediting interest rate was 2.43% and 2.14%, respectively, and the average yields were approximately 3.07% and 2.36%, respectively.
Certain events limit the ability of the Plan to transact at contract value with the issuer. Such events include the following: (1) any substantive modification to the Plan or administration of the Plan that is not consented to by the contract issuer (including complete or partial plan termination or merger with another plan), (2) establishment of a defined contribution plan that competes with the Plan for employee contributions, (3) Plan sponsor events, such as divestitures, spin-offs or early retirement programs that cause a significant withdrawal from the Plan, (4) transfer of assets from the fund directly to a competing fund option, (5) the failure of the Plan to qualify under Section 401(a) or Section 401(k) of the Internal Revenue Code. The Plan administrator believes that the occurrence of any of these events are remote.
Notes Receivable from Participants
Spectrum Pharmaceuticals, Inc. 401(k) Plan
Notes to Financial Statements (Continued)
Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent participant loans are reclassified as distributions based upon the terms of the Plan document.
Risks and Uncertainties
The Plan assets consist of various investments which are exposed to a number of risks, such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities and the level of uncertainty related to changes in the value of investment securities, it is at least reasonably possible that changes in risks in the near term could materially affect participants’ account balances and the amounts reported in the Statements of Net Assets available for Benefits and the Statement of Changes in Net Assets Available for Benefits as of
December 31, 2018
, and
2017
, respectively.
Payment of Benefits
Benefit payments to participants are recorded when paid.
Contributions
Contributions made by participants and the Company are recorded on an accrual basis. Contributions are recognized during the period in which the related compensation was paid.
Administrative Expenses
The Company pays for certain administrative expenses for the Plan. Only expenses paid by the Plan are reflected in the Plan’s financial statements.
Recent Accounting Standards Pronouncements
In August 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-13, Fair Value Measurement (Topic 820) Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement. ASU 2018-13 improves the disclosure requirements for fair value measurements. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company is assessing the impact on the disclosures of adopting this updated standard to its Plan financial statements.
3. Fair Value Measurements
ASC Topic 820,
Fair Value Measurements and Disclosures
, provides the framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under ASC Topic 820 are described as follows:
•
Level 1: Quoted prices in active markets for identical assets or liabilities.
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•
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Level 2: Quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument.
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•
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Level 3: Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
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The Plan uses appropriate valuation techniques based on the available inputs to measure the fair value of their investments. When available, the Plan measures fair value using Level 1 inputs because they generally provide the most reliable evidence of fair value. Level 3 inputs are only used when Level 1 or Level 2 inputs are not available.
The registered investment companies are valued at the net asset value (“NAV”) of shares held by the Plan at year-end, based upon quoted market prices. Spectrum common stock is valued at the NAV at year-end, based upon the closing quoted market price of the Company common stock held at year-end.
Spectrum Pharmaceuticals, Inc. 401(k) Plan
Notes to Financial Statements (Continued)
The preceding methods described may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Plan believes the valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.
The following tables represent the Plan’s fair value hierarchy for its investments as of
December 31, 2018
and
2017
:
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Fair Value Measurements as of December 31, 2018
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Investment Category
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Level 1
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Level 2
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Level 3
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Total
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Total registered investment companies
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$
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13,967,250
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$
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—
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$
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—
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$
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13,967,250
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Spectrum Pharmaceutical's Inc. common stock
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4,030,057
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—
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—
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4,030,057
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Total investments at fair value
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$
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17,997,307
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$
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—
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$
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—
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$
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17,997,307
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Fair Value Measurements as of December 31, 2017
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Investment Category
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Level 1
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Level 2
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Level 3
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Total
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Total registered investment companies
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$
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14,329,929
|
|
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$
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—
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|
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$
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—
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|
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$
|
14,329,929
|
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|
Spectrum Pharmaceutical's Inc. common stock
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7,520,724
|
|
|
—
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—
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|
|
7,520,724
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|
|
Total investments at fair value
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$
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21,850,653
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|
|
$
|
—
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|
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$
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—
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|
|
$
|
21,850,653
|
|
4. Related Party Transactions
The Plan allows for transactions with certain parties who may perform services or have fiduciary responsibilities to the Plan. Certain Plan investments are shares of mutual funds that are managed by the Plan custodian or are shares held of Spectrum’s common stock. The Plan issues loans to participants, which are secured by the vested balances in the participant’s account. The Company may also pay certain administrative expenses on behalf of the Plan, which totaled $30,872 and $27,467 relating to the year ended
December 31, 2018
and
2017
, respectively. Such transactions all qualify as exempt party-in-interest transactions under the provisions of ERISA.
5. Concentration, Market and Credit Risk
The Plan provides for various investment options, as well as Company matching contributions in Spectrum common stock. Investments are exposed to various risks, such as interest rate, market and credit risk. Due to the level of risk associated with certain investment securities, it is possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect participants’ account balances and the amount reported in the Statements of Net Assets Available for Benefits. As of
December 31, 2018
and
2017
, approximately 21% and 33% respectively, of the investments of the Plan consisted of securities of its sponsor, Spectrum Pharmaceuticals, Inc. As of
December 31, 2018
and
2017
, Spectrum’s stock price closed at $8.75 and $18.95, respectively.
6. Tax Status of the Plan
The IRS informed the Company through a letter dated March 31, 2014, that the Plan and related trust are designed in accordance with applicable sections of the IRC. The Plan administrator and the Plan's tax counsel believe that the Plan is designed and is currently being operated in compliance with the applicable requirements of the IRC and therefore believe that the Plan is qualified and the related trust is tax-exempt.
U.S. GAAP requires Plan management to evaluate tax positions taken by the Plan and recognize a tax liability (or asset) if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan administrator has analyzed the tax positions taken by the Plan, and has concluded that as of
December 31, 2018
, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The Plan administrator believes it is no longer subject to income tax examinations for years prior to 2015.
7. Subsequent Events
Spectrum Pharmaceuticals, Inc. 401(k) Plan
Notes to Financial Statements (Continued)
The Company evaluated events occurring between the end of its most recent Plan year-end and
June 24, 2019
, the date these accompanying financial statements became available to be filed with the SEC on Form 11-K.
On March 1, 2019, the Company completed the sale of its rights to seven commercialized drugs to Acrotech Biopharma LLC (“Acrotech”) (the “Commercial Product Portfolio Transaction”). The Company terminated 88 employees as part of this transaction, most of whom transitioned to Acrotech. However, the Commercial Product Portfolio Transaction had no effect on the Plan for the year ended
December 31, 2018
which would require recognition or additional disclosure in these financial statements on Form 11-K. There were no other events or transactions that would require recognition or disclosure in the financial statements on Form 11-K.
Spectrum Pharmaceuticals, Inc. 401(k) Plan
EIN: 93-0979187, PN: 001
Supplementary Information
Schedule of Assets (Held at End of Year)
As of
December 31, 2018
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Identity of Issue
|
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Description of Investment
|
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Type of Investment
|
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Current Value
|
|
Capital Research and Management Co.
|
|
American Funds New World R5
|
|
RIC
|
|
$
|
648,470
|
|
|
Energy Select Sector SPDR
|
|
Energy Select Sector SPDR ETF
|
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RIC
|
|
225,290
|
|
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Federated Government Obligations
|
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Federated Government Obligations IC
|
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RIC
|
|
324,588
|
|
|
Fidelity Investments
|
|
Fidelity Advisor Balanced
|
|
RIC
|
|
841,943
|
|
|
Fidelity Investments
|
|
Fidelity Advisor Investment Grade
|
|
RIC
|
|
207,731
|
|
|
Fidelity Investments
|
|
Fidelity Advisor Mid Cap Value
|
|
RIC
|
|
396,220
|
|
|
Fidelity Investments
|
|
Fidelity Advisor Worldwide
|
|
RIC
|
|
731,054
|
|
|
Fidelity Investments
|
|
Fidelity Real Estate Investment
|
|
RIC
|
|
109,399
|
|
|
Fidelity Investments
|
|
Fidelity Select Health Care Portfolio
|
|
RIC
|
|
550,614
|
|
|
Fidelity Investments
|
|
Fidelity Select Software & Comp Port
|
|
RIC
|
|
1,326,839
|
|
|
Fidelity Investments
|
|
Fidelity Telecom and Utilities
|
|
RIC
|
|
40,244
|
|
|
Glenmede Investment Management LP
|
|
Glenmede Quant US Large Cap Core
|
|
RIC
|
|
928,460
|
|
|
Harbor Mid Cap Value
|
|
Harbor Mid Cap Value Instl
|
|
RIC
|
|
476,755
|
|
|
Hartford Funds
|
|
Hartford International Growth
|
|
RIC
|
|
382,587
|
|
|
Janus Mutual Funds
|
|
Janus Enterprise Fund
|
|
RIC
|
|
577,356
|
|
|
J.P. Morgan Funds
|
|
JP Morgan Small Cap Core
|
|
RIC
|
|
366,314
|
|
|
J.P. Morgan Funds
|
|
JP Morgan Smart Retirement 2020
|
|
RIC
|
|
158,378
|
|
|
J.P. Morgan Funds
|
|
JP Morgan Smart Retirement 2025
|
|
RIC
|
|
102,384
|
|
|
J.P. Morgan Funds
|
|
JP Morgan Smart Retirement 2030
|
|
RIC
|
|
945,991
|
|
|
J.P. Morgan Funds
|
|
JP Morgan Smart Retirement 2035
|
|
RIC
|
|
263,930
|
|
|
J.P. Morgan Funds
|
|
JP Morgan Smart Retirement 2040
|
|
RIC
|
|
328,554
|
|
|
J.P. Morgan Funds
|
|
JP Morgan Smart Retirement 2045
|
|
RIC
|
|
122,158
|
|
|
J.P. Morgan Funds
|
|
JP Morgan Smart Retirement 2050
|
|
RIC
|
|
48,802
|
|
|
J.P. Morgan Funds
|
|
JP Morgan Smart Retirement 2055
|
|
RIC
|
|
61,322
|
|
|
J.P. Morgan Funds
|
|
JP Morgan Smart Retirement Income
|
|
RIC
|
|
3,526
|
|
|
J.P. Morgan Funds
|
|
JP Morgan Disciplined Equity
|
|
RIC
|
|
269,691
|
|
|
Prudential Financial
|
|
Prudential Global Total Return
|
|
RIC
|
|
108,375
|
|
|
State Street Global Advisors
|
|
SPDR Gold Shares
|
|
RIC
|
|
86,818
|
|
|
State Street Global Advisors
|
|
SPDR S&P 500
|
|
RIC
|
|
1,348,211
|
|
|
T. Rowe Price Associates, Inc.
|
|
T. Rowe Price Emerging Markets Bond
|
|
RIC
|
|
231,913
|
|
|
TCW Investment Management, Co.
|
|
TCW Total Return Bond
|
|
RIC
|
|
367,024
|
|
|
Vanguard Group, Inc.
|
|
Vanguard Long Term Investment Grade
|
|
RIC
|
|
504,531
|
|
|
Vanguard Group, Inc.
|
|
Vanguard Stock Market Index
|
|
RIC
|
|
300,988
|
|
|
Vanguard Group, Inc.
|
|
Vanguard U.S. Value
|
|
RIC
|
|
389,927
|
|
|
Wells Fargo Advisors
|
|
Wells Fargo Precious Metals
|
|
RIC
|
|
190,863
|
|
|
Spectrum Pharmaceuticals, Inc.*
|
|
Spectrum Pharmaceuticals Common Stock Fund
|
|
SPCS
|
|
4,030,057
|
|
|
Wells Fargo Bank, N/A
|
|
Wells Fargo Stable Value Fund M
|
|
CCT
|
|
951,553
|
|
|
|
|
Total investments
|
|
|
|
$
|
18,948,860
|
|
|
|
|
|
|
|
|
|
|
Participant Loans*
|
|
Participant Loans (maturing 2019 to 2033) at interest rates of 5.25% to 10.25%
|
|
|
|
$
|
272,826
|
|
* Indicates a party-in-interest to the Plan.
RIC - Registered investment company
CCT - Common collective trust
SPCS - Spectrum Pharmaceutical's Inc. common stock
Spectrum Pharmaceuticals, Inc. 401(k) Plan
EIN: 93-0979187, PN: 001
Supplementary Information
Schedule H, Part IV, Item 4a
Schedule of Delinquent Participant Contributions
As of
December 31, 2018
During the year ended
December 31, 2018
, contributions consisting of employee deferrals for one payroll period were not remitted timely to the plan, thus consisting nonexempt transactions between the Plan and the Company. Lost earnings have been calculated and were remitted during the 2019 plan year.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total that Constitute Nonexempt Prohibited Transactions
|
|
Participant Contributions Transferred Late to Plan
|
|
Contributions Not Corrected
|
|
Contributions Corrected Outside VFCP*
|
|
Contributions Pending Correction in VFCP*
|
|
Total Fully Corrected
Under VFCP* and PTE
2002-51
|
|
Check here if late participant loan
repayments are included:
o
|
|
$
|
—
|
|
|
$
|
41,492
|
|
|
$
|
—
|
|
|
$
|
—
|
|
* Voluntary Fiduciary Correction Program
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan administrator of the Spectrum Pharmaceuticals, Inc. 401(k) Plan has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SPECTRUM PHARMACEUTICALS, INC.
|
|
|
|
|
|
|
Date:
|
June 24, 2019
|
By:
|
|
/s/ Joseph W. Turgeon
|
|
|
|
|
|
President and Chief Executive Officer
|
|
|
|
|
|
|
EXHIBIT INDEX
|
|
|
|
|
|
Exhibit Number
|
Exhibit Title
|
|
23.1
|
|
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