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Quotes & Info
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| INAP > SEC Filings for INAP > Form 8-K on 31-Mar-2009 | All Recent SEC Filings |
31-Mar-2009
Change in Directors or Principal Officers
On March 25, 2009, the Compensation Committee of the Board of Directors of Internap Network Services Corporation (the "Company") approved the 2009 Long-Term Incentive Plan (the "2009 Plan").
Under the 2009 Plan, named executive officers and other key contributors are eligible for the award of restricted common stock and options to purchase common stock. Fifty percent of the aggregate of each award are time-based restricted common stock and 50% are options to purchase common stock. The time-based restricted common stock vests in four equal annual installments on the anniversary of the grant date. The options to purchase common stock vest 25% after one year and in equal monthly increments for three years thereafter. The options have a 10-year term.
Awards Pursuant to the 2009 Plan
The Compensation Committee awarded the following grants under the 2009 Plan on
March 25, 2009. The stock options have an exercise price of $2.54.
Name and Title Total Grant Time-Based Stock Options
Restricted
Stock
George E. Kilguss III, Chief 105,600 37,700 67,900
Financial Officer
Timothy Sullivan, Chief Technology 105,600 37,700 67,900
Officer
Richard P. Dobb, Chief 104,800 37,400 67,400
Administrative Officer
Randal R. Thompson, Vice President 65,200 23,300 41,900
of Global Sales
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