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Quotes & Info
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| TSCM > SEC Filings for TSCM > Form 8-K on 22-Jun-2009 | All Recent SEC Filings |
22-Jun-2009
Change in Directors or Principal Officers
On June 19, 2009, TheStreet.com, Inc. (the "Company") appointed Richard Broitman as Chief Accounting Officer of the Company. Mr. Broitman, who is 56, joined the Company as its Controller in July 2000, was appointed Vice President of Finance in October 2007 and was named Acting Chief Accounting Officer in May 2009. Before joining the Company, Mr. Broitman was Controller of Individual Investor Group, an online and print media company, was Director of International Royalties for Bertelsmann Music Group and worked in an audit capacity for both Deloitte Touche Tohmatsu (formerly Touche Ross & Co.) and CBS Corporation.
For his service as the Company's Chief Accounting Officer, Mr. Broitman will receive an annual base salary of $200,000 and will be eligible to receive a target annual bonus of 40% of his base salary, contingent upon achieving performance goals to be established by the Company's Compensation Committee with input from Mr. Broitman. In addition, Mr. Broitman will be granted, as of July 1, 2009, 47,778 restricted stock units ("RSUs") payable in shares of the Company's common stock under the Company's 2007 Performance Incentive Plan, vesting in the amount of 4,778 shares on each of the first four anniversaries of the date of grant and the balance on the fifth anniversary of the date of grant. Any unvested RSUs will become vested upon the occurrence of a change in control of the Company; a portion of any unvested RSUs will become vested upon Mr. Broitman's death or disability; any unvested RSUs will be forfeited upon the occurrence of certain events, including the termination of Mr. Broitman's employment other than as a result of his death or disability; and the RSUs will be subject to clawback by the Company in certain circumstances.
On June 17, 2009, David Morrow, Editor-in-Chief, announced that he would be resigning from the Company to become the first Donald W. Reynolds Endowed Chair in Business Journalism at the Reynolds School of Journalism of the University of Nevada, Reno.
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