RealNetworks, Inc. (NASDAQ:RNWK) 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.
On April 2, 2019, the Compensation Committee of the Board of Directors of RealNetworks, Inc. approved the 2019 Executive MBO Plan. The Compensation Committee will administer this plan, which is to the RealNetworks 2005 Stock Incentive Plan, as amended and restated.
Payouts under the 2019 Executive MBO Plan will be determined by our Compensation Committee and will be based on company and/or divisional financial performance and individual performance. Financial performance will be measured by the achievement of specific financial goals related to revenue and contribution margin by reportable segment. Contribution margin by reportable segment is a non-GAAP measure that we define as operating income (loss) including other income (expense) net, but excluding the impact of the following: depreciation and amortization, acquisitions related intangible asset amortization, stock-based compensation, restructuring and other charges, and lease exit and related charges. Individual performance will be measured based on specified individual strategic and commercial business objectives.
Any bonuses payable to the 2019 Executive Bonus Plan will be paid in cash or in the form of fully vested restricted stock units, or a combination thereof.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
to the rules and regulations of the SEC, the attached exhibits are deemed to have been furnished to, but not filed with, the SEC.
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Exhibit No. |
Description |
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10.1 |
2019 Executive MBO Plan |
REALNETWORKS INC Exhibit
EX-10.1 2 execbonusplan2019ex101.htm EXHIBIT 10.1 Exhibit Exhibit 10.1RealNetworks,…
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About RealNetworks, Inc. (NASDAQ:RNWK)
RealNetworks, Inc. (RealNetworks) is engaged in creating applications and services, which help in connecting with digital media. The Company provides the digital media services and products it creates to consumers, mobile carriers and other businesses. It operates through three segments: RealPlayer Group, Mobile Entertainment and Games. Its RealPlayer Group business consists of its photo and video sharing product, RealTimes and its RealPlayer media player software, and related products and services. Its Mobile Entertainment segment consists primarily of the digital media services, which it provides to network service providers as software as a service (SaaS) offerings. It owns and operates casual games service, offering casual games through digital downloads, online subscription play, third-party portals, social networks and mobile devices. Its casual games include board, card, puzzle, word and hidden-object games. It develops, publishes, licenses and distributes casual games.