Delaware | 001-33508 | 20-1677033 | ||
(State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification Number) |
¨ | 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 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Name | 2015 Salary | 2015 Target Annual Incentive | |||
Robert A. Lento | $475,000 | $380,000 | |||
Charles Kirby Wadsworth | $265,000 | $66,000 |
Name and Title | Options (1)(2) | Restricted Stock Units (2) | ||||||
Robert A. Lento President, Chief Executive Officer and Director | 359,000 | 242,000 | ||||||
Peter J. Perrone Senior Vice President, Chief Financial Officer & Treasurer | 133,000 | 89,000 | ||||||
George Vonderhaar Senior Vice President, Chief Sales Officer | 125,000 | 84,000 | ||||||
Philip C. Maynard Senior Vice President, Chief Legal Officer & Secretary | 78,000 | 53,000 | ||||||
Charles Kirby Wadsworth Senior Vice President, Chief Marketing Officer | 94,000 | 63,000 |
(1) | Each stock option will have an exercise price per share equal to the fair market value per share of the Company's common stock as of November 13, 2014, which is the third business day following the Company's public announcement of its third quarter 2014 financial results. |
(2) | Subject to the provisions of the 2007 Equity Incentive Plan or each recipient's respective employment agreement, one-third (1/3rd) of the Restricted Stock Units will vest on December 1, 2015, one-twelfth (1/12th) of the Restricted Stock Units will vest on March 1, 2016, and an additional one- twelfth (1/12th) will vest on the first day of each June, September, December and March thereafter for eight (8) consecutive quarters, provided the recipient continues to be a Service Provider through each such vesting date. One-third (1/3rd) of the shares subject to the stock option will vest on December 1, 2015, and one-thirty-sixth (1/36th) of the stock options will vest on the 1st day of January, 2016 and on the 1st day of each month thereafter until all of the stock options have vested (three years), provided the recipient continues to be a Service Provider through each such vesting date. |
LIMELIGHT NETWORKS, INC. | |||||
Dated: November 13, 2014 | By: | /s/ Philip C. Maynard | |||
Philip C. Maynard Senior Vice President, Chief Legal Officer and Secretary |