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LLNW > SEC Filings for LLNW > Form 8-K on 19-Feb-2014All Recent SEC Filings

Show all filings for LIMELIGHT NETWORKS, INC.

Form 8-K for LIMELIGHT NETWORKS, INC.


19-Feb-2014

Change in Directors or Principal Officers


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

The Compensation Committee (the "Committee") of the Board of Directors of Limelight Networks, Inc. (the "Company") made the following compensation decisions in connection with its annual review of executive officer compensation:
Annual Cash Bonus Determination
On February 12, 2014, the Committee approved the annual cash bonuses with respect to services performed in fiscal year 2013 for participants under the Company's Master Executive and Management Bonus Plan, a copy of which was furnished with a Current Report on Form 8-K on May 19, 2009 (the "Plan"). Participants included the Company's principal executive officer, principal financial officer, and other named executive officers. The bonus amounts were based upon the criteria set forth in the Plan and the Company's financial results for fiscal year 2013, or in Mr. Lindroth's case, the provisions of his Transition Agreement, a copy of which was furnished with a Quarterly Report on Form 10-Q on August 8, 2013. The table below sets forth the bonuses awarded to the Company's principal executive officer, principal financial officer and other current named executive officers:

                                                                         2013 Cash
Executive Officer                                                          Bonus
Robert A. Lento
  President, Chief Executive Officer and Director                         $181,500
Peter J. Perrone
  Senior Vice President, Chief Financial Officer and Treasurer             $55,000
Douglas S. Lindroth
  Former Senior Vice President, Chief Financial Officer and Treasurer     $208,500
Indu Kodukula
  Former Chief Operating Officer                                          $137,500

2014 Target Annual Cash Bonus Amounts and Salary Determination On February 19, 2014, the Committee approved 2014 target annual cash bonus amounts and salaries for the Company's senior executive officers, including the Company's principal executive officer, principal financial officer, and other named executive officers. The target cash bonus amounts pertain to services to be performed in fiscal 2014 (which bonuses will be paid in 2015) pursuant to the Plan. Each bonus plan participant may earn between zero and 200% of the target bonus depending upon the level of attainment or over-attainment of specified corporate financial and operational performance goals. The target annual incentive compensation shall be subject to the terms and conditions of the applicable 2014 incentive compensation plan(s) approved by the Committee. The 2014 salary and target annual cash bonus amounts for the Company's current named executive officers are summarized below and are unchanged from the 2013 levels:

Executive Officer   2014 Salary   2014 Target Annual Incentive
Robert A. Lento      $475,000               $300,000
Peter J. Perrone     $325,000               $200,000


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