UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
February 7, 2022
LIMELIGHT NETWORKS, INC.
(Exact name of Registrant as specified in its charter)
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| Delaware | | 001-33508 | | 20-1677033 |
(State or other jurisdiction of
incorporation or organization) | | (Commission
File Number) | | (I.R.S. Employer
Identification Number) |
2222 West 14th Street
Tempe, AZ 85281
(Address, including zip code, of principal executive offices)
(602) 850-5000
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
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| Title of each class | | Trading Symbol(s) | | Name of exchange on which registered |
| Common stock, par value $0.001 per share | | LLNW | | NASDAQ |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). | | |
| | | Emerging growth company | | ☐ |
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| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | | ☐ |
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The Compensation Committee of the Board of Directors of the Company approved certain equity incentive awards to members of the executive leadership team as part of its annual executive compensation review, including the awards to the named executive officers in the table below.
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| Name and Title | | | | Restricted Stock Units (1) |
Robert Lyons President, Chief Executive Officer and Director | | | | 639,645 |
Daniel Boncel SVP, Chief Financial Officer & Treasurer | | | | 98,970 |
Christine Cross SVP, Chief Client Success and Marketing Officer | | | | 169,665 |
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| (1) | Subject to the provisions of the Amended and Restated 2007 Equity Incentive Plan or each recipient’s respective employment agreement, one-third (1/3rd) of the RSUs will vest on December 1, 2022, one-twelfth (1/12th) of the RSUs will vest on March 1, 2023, and an additional one-twelfth (1/12th) will vest on the first day of each June, September, December, and March thereafter for eight (8) consecutive quarters, provided the recipient continues to be a Service Provider through each such vesting date. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| | LIMELIGHT NETWORKS, INC. |
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| Dated: February 9, 2022 | | By: | | /s/ Michael DiSanto |
| | | | Michael DiSanto Chief Administrative and Legal Officer & Secretary |
