Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
LLNW > SEC Filings for LLNW > Form 8-K on 1-Nov-2012All Recent SEC Filings

Show all filings for LIMELIGHT NETWORKS, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for LIMELIGHT NETWORKS, INC.


1-Nov-2012

Results of Operations and Financial Condition, Change in Directors or Pr


Item 2.02 Results of Operations and Financial Condition.

On November 1, 2012, Limelight Networks, Inc. (the "Company") issued a press release regarding its financial results for the third quarter ended September 30, 2012 and certain other information. The full text of this press release is furnished herewith as Exhibit 99.1.

The information in this Form 8-K and the Exhibit attached hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.



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

(b) Limelight also announced a search for a new CEO to succeed Jeff Lunsford, who will leave the day-to-day CEO role to pursue private business interests in mid-January, 2013. Mr. Lunsford will remain active and involved as a member of Company's Board of Directors.

(e) In light of the upcoming CEO transition, and in order to better assure continuity of senior management both during the transition and beyond, the Board of Directors accelerated its review of senior management compensation, which normally occurs annually in the early part of the first quarter of each year, and made the following equity incentive awards:

                                                                               Restricted
Name and Title                                      Options (1)(2)           Stock Units (2)
Nathan F. Raciborski
Co-Founder and Strategic Advisor                            250,000                   167,000
David M. Hatfield
Executive Vice President, Limelight Global
Sales and Consulting                                        375,000                   250,000
Douglas S. Lindroth
Senior Vice President, Chief Financial
Officer & Treasurer                                         375,000                   250,000
Philip C. Maynard
Senior Vice President, Chief Legal Officer &
Secretary                                                   250,000                   167,000

(1) Each stock option will have an exercise price per share equal to the fair market value per share of the Company's common stock as of November 6, 2012, which is the third business day following the Company's public announcement of its third quarter 2012 financial results.

(2) Subject to the provisions of the 2007 Equity Incentive Plan or each recipient's respective employment agreement, 1) a total of 50% of the stock options and restricted stock units subject to the grants shall vest quarterly in four equal installments during the first year beginning on March 1, 2013, and then on each of June 1, September 1 and December 1 thereafter; 2) a total of 33% of the stock options and restricted stock units subject to the grants shall vest quarterly in four equal installments during the second year beginning on March 1, 2014, and then on each of June 1, September 1 and December 1 thereafter; and 3) a total of 17% of the stock options and restricted stock units subject to the grants shall vest quarterly in four equal installments during the third year beginning on March 1, 2015, and then on each of June 1, September 1 and December 1 thereafter, provided the officer remains a Service Provider to the Company through the vesting date.



Item 8.01 Other Events.

During the third quarter, the Company completed its second repurchase program. On November 1, 2012, the Company announced its plans to commence a new repurchase program. The Board approved the repurchase of up to $10 million of the Company's common stock.

Reference is made to the news release attached hereto and incorporated herein as Exhibit 99.1.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit
Number       Description

 99.1        Limelight Networks, Inc. Press Release dated November 1, 2012
             (furnished herewith).


  Add LLNW to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for LLNW - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.