F5 Networks, Inc. (NASDAQ:FFIV) Files An 8-K Entry into a Material Definitive Agreement
Item1.01 Entry into a Material Definitive Agreement
On May3, 2017, F5 Networks, Inc. (the Company) entered into an
office lease agreement (the Lease) with Fifth Columbia Investors,
LLC (the Landlord), to which the Company will lease approximately
515,000 rentable square feet (the Premises) of an office building
to be located at 801 Fifth Avenue, Seattle, Washington. The
Premises will become the Companys new corporate headquarters.
The term of theLeaseis 14.5 years (the Term), commencing on the
latter of (i)April1, 2019 or (ii) 10 months after the substantial
completion date of the construction of the Premises. The Company
has the option to extend the Term for the Premises for up to
three renewal terms of five years each, provided that the rent
would be subject to market adjustment at the beginning of each
renewal term.
Base rent payments due under theLeasefor the Premises are
expected to be approximately $359.5million in the aggregate over
the Term of theLease. The Company is also responsible for certain
other costs under theLease, such as certain build-out expenses,
operating expenses, taxes, assessments, insurance, and utilities.
The foregoing is a summary description of certain terms of
theLeaseand is qualified in its entirety by reference to the full
text of theLease, a copy of which is filed as Exhibit 10.1 hereto
and incorporated by reference herein.
Item2.03 Creation of a Direct Financial Obligation or an
Obligation under an Off-Balance Sheet Arrangement of a
Registrant
The information set forth above and referenced under Item 1.01 is
hereby incorporated by reference into this Item 2.03.
Item9.01 Financial Statements and Exhibits
(d)Exhibits:
| 10.1 |
Office Lease Agreement between F5 Networks, Inc. and Fifth Columbia Investors, LLC dated May3, 2017 |
About F5 Networks, Inc. (NASDAQ:FFIV)
F5 Networks, Inc. is a developer and provider of software defined application services. The Company is engaged in the development, marketing and sale of application delivery networking products that optimize the security, performance and availability of network applications, servers and storage systems. The Company’s geographical segments include the Americas (primarily the United States); Europe, the Middle East, and Africa (EMEA); Japan, and the Asia Pacific region (APAC). The Company’s Traffic Management Operating System (TMOS) based offerings include software products for local and global traffic management, network and application security, access management, Web acceleration and various network and application services. These products are available as modules that can run individually or as part of an integrated solution on the Company’s purpose-built BIG-IP appliances and VIPRION chassis-based hardware, or as software-only Virtual Editions. F5 Networks, Inc. (NASDAQ:FFIV) Recent Trading Information
F5 Networks, Inc. (NASDAQ:FFIV) closed its last trading session down -0.63 at 126.87 with 1,151,535 shares trading hands.