LIMELIGHT NETWORKS, INC. (NASDAQ:LLNW) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
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Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
quarterly earnings call that Joseph Gleberman expressed his
intent to resign from the Board of Directors (the Board) of
Limelight Networks, Inc. (the “Company”) prior to the 2017 Annual
Meeting of Stockholders (the Annual Meeting). Mr. Glebermans
decision to not stand for re-election as a director of the
Company is not the result of any disagreements with the Company
relating to its operations, policies, or practices.
the appointments of Doug Bewsher and Scott Genereux>to the
Companys Board to fill the vacancy created by the departure of
Gray Hall from the Board on October 14, 2016, as well as the
impending vacancy by Mr. Glebermans expected resignation. Each
will serve until his successor is duly elected and qualified. Mr.
Genereux will serve as a Class I director of the Company and will
be presented to the shareholders for election to the Board at the
upcoming Annual Meeting. Mr. Bewsher will serve as a Class II
director of the Company and will be presented to the shareholders
for election to the Board at the 2018 Annual Meeting of
Stockholders. To facilitate the appointment of Messrs. Genereux
and Bewsher, from the effective date of their appointments until
the effective date of Mr. Glebermans resignation, the eight
members of the Board shall consist of two Class I directors,
three Class II directors, and three Class III directors.
Following these appointments and Mr. Glebermans resignation, the
Board will consist of two Class I directors, two Class II
directors, and three Class III directors.
Messrs. Bewsher and Genereux will receive an initial award under
the Companys Amended and Restated 2007 Equity Incentive Plan
restricted stock units at a fixed value of $175,000. These RSUs
will vest over a three-year term. The Company also plans to enter
into an indemnification agreement with each of Messrs. Bewsher
and Genereux in the same form as the indemnification agreements
the Company has entered into with other members of the Board.
Messrs. Bewsher and Genereux also will be eligible to receive
cash compensation under the terms of the Companys non-employee
independent director compensation program.
the appointments of Messrs. Bewsher and Genereaux and Mr.
Glebermans intention to resign. The press release is filed with
this report on Form 8-K as Exhibit 99.1 and is incorporated
herein by reference.
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Item 9.01
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Financial Statements and Exhibits.
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Exhibit No.
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Description
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99.1
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Press release of Limelight Networks, Inc., dated
February 9, 2017 (furnished herewith). |
About LIMELIGHT NETWORKS, INC. (NASDAQ:LLNW)
Limelight Networks, Inc. provides content delivery network services to deliver content over Internet. The Company operates a globally distributed, computing platform and provides services under the Orchestrate Platform, which include content delivery, video content management, Website and Web application acceleration, Website and content security and cloud storage services. The Company’s services include content delivery services, mobile delivery services, video content management services, performance services, cloud-based storage services and cloud-based content security services. It provides solutions to deliver digital content to its customers, such as software and device manufacturers, media and broadcasters, and gaming. It provides services to deliver digital content to Web, mobile, social, gaming, large screen and other digital channels. Its services offer various features, which include video publishing, mobile enablement, content delivery, Website and cloud storage. LIMELIGHT NETWORKS, INC. (NASDAQ:LLNW) Recent Trading Information
LIMELIGHT NETWORKS, INC. (NASDAQ:LLNW) closed its last trading session up +0.22 at 2.46 with 324,852 shares trading hands.
