NII HOLDINGS, INC. (OTCMKTS:NIHDQ) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

NII HOLDINGS, INC. (OTCMKTS:NIHDQ) 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 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) As previously disclosed by NII Holdings, Inc. (the “Company”), the Board of Directors has approved a restructuring of the Company to further streamline expenses by shifting the costs and associated responsibilities from the Company’s headquarters in Reston, Virginia to its operating subsidiary in Brazil, and while the Company is focused on effectively managing its business in Brazil, the Company is also considering potential strategic alternatives with third parties. Also as previously disclosed, the Board of Directors approved a Form of Separation and Release Agreement (the “Agreement”) for certain executive officers of the Company. The Agreements, which are expected to be executed by these officers in the event of their termination of employment with the Company, were provided to the officers on November 13, 2015. On December 21, 2016, in connection with the approval of the Company’s 2017 budget, the Agreement with Steven M. Shindler, Chief Executive Officer, was updated to provide for a target termination date of April 1, 2017, and the Agreements with Daniel F. Freiman, Chief Financial Officer, and Shana C. Smith, General Counsel, were updated to provide for a target termination date of July 1, 2017, but when termination will occur has not been determined.
.
>>>
>>>>>>>

About NII HOLDINGS, INC. (OTCMKTS:NIHDQ)

NII Holdings, Inc. is a holding company. The Company operates through its subsidiary, Nextel Telecomunicacoes Ltda. (Nextel Brazil). The Company provides wireless communication services under the Nextel brand in Brazil with its principal operations located in urban and suburban centers with population densities and related transportation corridors of that country, including Rio de Janeiro and Sao Paulo. The Company operates in the Nextel Brazil segment. It also offers long-term evolution (LTE) services in Rio de Janeiro and provides services on its integrated digital enhanced network (iDEN) network throughout various regions in Brazil. The iDEN technology is a digital technology that is able to operate on non-contiguous spectrum frequencies. The Company offers services supported by a network that utilizes wideband code division multiple access (WCDMA) technology. Its services include mobile telephone voice service, wireless data services, and voice and data roaming services.

NII HOLDINGS, INC. (OTCMKTS:NIHDQ) Recent Trading Information

NII HOLDINGS, INC. (OTCMKTS:NIHDQ) closed its last trading session 00.0000 at 0.0200 with shares trading hands.

An ad to help with our costs