UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

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

~~Pursuant~~Date toof ~~Section~~Report ~~13 or 15~~(d)Date of ~~the~~earliest ~~Securities~~event ~~Exchange~~reported): January ~~Act~~27, ~~of 1934~~ 2006

Date of Report (Date of earliest event reported): June 21, 2005
CONOR MEDSYSTEMS, INC.

(Exact name of registrant as specified in its charter)

(Exact name of registrant as specified in its charter)
Delaware

(State or other jurisdiction of incorporation)

(State or other jurisdiction of incorporation)

000-51066		94-3350973
(Commission File Number)		(IRS Employer Identification No.)

1003 Hamilton Court

Menlo Park, CA 94025

(Address of principal executive offices, including Zip Code)

~~(Address~~Registrant's oftelephone ~~principal executive offices~~number, including ~~Zip~~area ~~Code~~code: (650) 614-4100

Registrant’s telephone number, including area code: (650) 614-4100

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))

Item 15.0102. ~~Entry into a Material Definitive Agreement.~~
Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

OnThe ~~June~~board ~~21, 2005, the Compensation Committee~~ of ~~the~~directors ~~Board of Directors~~ (the ~~“Compensation~~ ~~Committee”~~"Board") of Conor Medsystems, Inc. (the “"Company”") ~~established~~elected ~~the~~Steven ~~2005~~B. ~~Bonus~~Gerber, ~~Plan~~M.D. to ~~reward~~ the ~~Company’s~~Board ~~employees,~~effective ~~including~~as ~~executive~~of ~~officers~~January 27, 2006. Dr. Gerber was recommended for ~~assisting~~election to the ~~Company~~Board inby ~~achieving~~the ~~its~~Nominating ~~business objectives.~~and ~~Under~~Corporate ~~the~~Governance ~~2005~~Committee ~~Bonus~~of ~~Plan,~~the ~~cash~~Board. Dr. ~~bonuses~~Gerber ~~for~~will ~~services~~serve ~~rendered~~as ~~during~~a ~~2005,~~Class ifII ~~any,~~director ~~will~~whose beterm ~~based~~will onexpire at the ~~achievement~~Company's 2006 annual meeting of ~~corporate~~stockholders. At ~~and~~this ~~individual~~time ~~objectives,~~Dr. ~~which~~Gerber ~~will~~has benot ~~determined~~been atappointed ~~the~~to ~~discretion~~any committees of the ~~Compensation Committee~~Board. There ~~Bonuses payable~~was tono ~~the~~arrangement ~~Company’s~~or ~~executive~~understanding ~~officers~~between ~~under~~Dr. ~~the~~Gerber ~~2005~~and ~~Bonus~~any ~~Plan~~other ~~may~~persons ~~range~~pursuant ~~from 0%~~ to ~~65%~~which ofDr. ~~each~~Gerber ~~executive~~was ~~officer’s~~selected ~~base~~as ~~salary.~~a director.

The corporate objectives approved by the Compensation Committee include preclinical, clinical trial, regulatory and commercialization milestones. Individual performance objectives vary depending on the Company’s goals and the positions and responsibilities held by the executive officers. The Company’s Board of Directors and the Compensation Committee reserve the right to modify these objectives and criteria at any time based on business changes during the year or to grant bonuses even if the identified objectives are not met.
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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 hereunto duly authorized.

	CONOR MEDSYSTEMS, INC.
Dated: June 24, 2005	By:	/s/ Michael Boennighausen
Dated: January 31, 2006	By:	/s/ Michael Boennighausen Michael Boennighausen Vice President and Chief Financial Officer
		Michael Boennighausen Vice President and Chief Financial Officer

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