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MSTR > SEC Filings for MSTR > Form 8-K on 16-Nov-2012All Recent SEC Filings

Show all filings for MICROSTRATEGY INC



Change in Directors or Principal Officers, Financial Statements and Exhibits

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

The employment of Donald W. Hunt, the Executive Vice President, Worldwide Sales & Operations of MicroStrategy Incorporated (the "Company"), with the Company ended on November 9, 2012. Bob Watts, the Company's Senior Executive Vice President & Chief Operating Officer, has assumed responsibility for the functions previously performed by Mr. Hunt.

In a Current Report on Form 8-K filed with the Securities and Exchange Commission on October 22, 2012, the Company disclosed that it had implemented a reorganization of its management team and that Mr. Hunt was no longer a named executive officer of the Company for purposes of the disclosure requirements under Item 5.02(b) of Form 8-K.

The Company and Mr. Hunt entered into an agreement dated November 13, 2012 (the "Agreement") in connection with Mr. Hunt's departure from the Company, pursuant to which the Company has agreed to pay Mr. Hunt $191,000, representing the estimated amount Mr. Hunt would have been eligible to receive for the third quarter of 2012 under the Executive Vice President, Worldwide Sales & Operations Q2-Q4 Quarterly Bonus Plan if he had remained an employee of the Company and satisfied other conditions as required by such plan, plus an additional amount of $276,000.

The foregoing description of the Agreement is qualified in its entirety by reference to the full text of the Agreement, a copy of which is attached as Exhibit 99.1 hereto.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

  No.        Description

99.1         General Release of Claims between MicroStrategy Services Corporation
             and Donald W. Hunt dated November 13, 2012

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