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Quotes & Info
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| TVL > SEC Filings for TVL > Form 8-K on 24-Sep-2012 | All Recent SEC Filings |
24-Sep-2012
Change in Directors or Principal Officers
(d) On September 18, 2012, the board of directors (the "Board") of LIN TV Corp. (the "Company") elected John R. Muse to fill a vacancy as a Class III director of the Board for a term expiring at the 2015 annual meeting of stockholders of the Company. Mr. Muse is Chairman of the private equity firm HM Capital Partners. The Board has not appointed Mr. Muse to any Board committee.
In connection with his service as a member of the Board, Mr. Muse will participate in the director compensation program described in the Company's proxy statement for its 2012 annual meeting of stockholders, which was filed with the Securities and Exchange Commission on April 12, 2012. In addition, on September 18, 2012, the Board granted Mr. Muse an option to purchase 100,000 shares of the Company's class A common stock in accordance with the terms of the Company's Third Amended and Restated 2002 Non-Employee Director Stock Plan (the "Plan"). The option was granted at an exercise price of $4.24 per share, which was the average of the high and low prices of the Company's class A common stock on the New York Stock Exchange at the close of business on September 18, 2012, as provided by the terms of the Plan. The option will vest over three years, with 25% of the option vesting on the first and second anniversary of the grant date and 50% of the option vesting on the third anniversary of the grant date.
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