Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
(e) On May 29, 2009, the Board of Directors (the "Board") of Virage Logic
Corporation (the "Company") approved cash compensation for J. Daniel McCranie,
for his service as Executive Chairman of the Company, consisting of a base
salary at an annual rate of $162,500, effective as of March 7, 2009.
Mr. McCranie's compensation will be reviewed by the Board and the Compensation
Committee of the Board at or about the beginning of each calendar year. The
Board also approved a grant of 11,307 fully vested restricted stock units
("RSUs") to Mr. McCranie, which amount was calculated using the same formula as
the Company uses to determine the number of RSUs granted to its independent
directors annually.
Add
VIRL to Portfolio
Set Alert
Email to a
Friend