RPX Corporation (NASDAQ:RPXC) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

RPX Corporation (NASDAQ:RPXC) 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.

As previously reported, on March 15, 2017, the Board of Directors of RPX Corporation (the “Company”) appointed Martin E. Roberts to serve as the Company’s Chief Executive Officer and President. On April 13, 2017, the Company approved the terms of Mr. Roberts’ compensation.
Base Salary and Bonuses. Mr. Roberts’ initial base salary will be $500,000 per year and he will be eligible to receive a discretionary annual cash bonus of up to 50% of his base salary.
Equity Compensation. Mr. Roberts will also be granted restricted stock units with a value of $1,000,000, 6.25% of which will vest on May 20, 2017 and 6.25% of which will vest in equal quarterly installments thereafter provided that he remains in continuous employment through each vest date to the Company’s 2011 Equity Incentive Plan.

About RPX Corporation (NASDAQ:RPXC)

RPX Corporation offers patent risk management solutions. The Company’s patent risk management solution facilitates exchanges of value between owners and users of patents. The core of its solution is defensive patent aggregation, in which the Company acquires patents and licenses to patents that are being or may be asserted against its clients. The Company then licenses these patent assets to its clients to protect them from patent infringement assertions. The Company also provides its clients with access to its patent market intelligence and data. The Company acquires patent assets from various parties, including operating companies, individual inventors, non-practicing entities (NPEs), universities and bankruptcy trustees. Clients can access this market intelligence and data through its Web portal and through discussions with its client relations team. The Company also offers insurance to cover certain costs of patent litigation.

RPX Corporation (NASDAQ:RPXC) Recent Trading Information

RPX Corporation (NASDAQ:RPXC) closed its last trading session down -0.01 at 12.38 with 232,911 shares trading hands.

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