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TVL > SEC Filings for TVL > Form 8-K on 27-May-2009All Recent SEC Filings

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Form 8-K for LIN TV CORP


27-May-2009

Change in Directors or Principal Officers


Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.

(d) On May 21, 2009, the Board of Directors of LIN TV Corp. (the "Board") elected Dr. William H. Cunningham to serve as a Class I director of the Board for a term expiring at the 2010 Annual Meeting of Stockholders.

Also on that date, the Board appointed Dr. Cunningham to serve on the Audit Committee of our Board as Chairperson effective as of May 22, 2009 to replace Patti S. Hart whose resignation as a director on our Board was effective as of that date. (Ms. Hart's resignation was previously reported in our Current Report on Form 8-K filed with the SEC on May 4, 2009.)

On May 21, 2009, the Board granted Dr. Cunningham an option to purchase 100,000 shares of our class A common stock in accordance with the terms of our Third Amended and Restated 2002 Non-Employee Director Stock Plan (the "Plan"). The option was granted at an exercise price of $2.075 per share, which was the average of the high and low prices of our class A common stock on the New York Stock Exchange at the close of business on May 21, 2009, as provided by the terms of the Plan. The option will vest over four years, with 25% of the option vesting on each anniversary of the grant date, beginning one year from the date of grant.


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