SEC Form 4 · accession 0001391127-15-000029
Limelight Networks, Inc. · LLNW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Daniel R Boncel
Officer — Principal Accounting Officer
Period of report
Mar 2, 2015
Accepted (ET)
Mar 4, 2015 · 2:22 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001391127
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF2 | Mar 2, 2015 | P | 10,294 | $3.40 | A | 140,294 | D | |
| Common StockF4,F5 | Mar 2, 2015 | A | 2,058 | $0.00 | A | 142,352 | D | |
| Common StockF4,F7 | Mar 2, 2015 | A | 32,000 | $0.00 | A | 174,352 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-qualified stock option (Right to Buy)F4,F8 | $3.40 | Mar 2, 2015 | A | 48,000 | A | Mar 1, 2016 | Mar 1, 2025 | Common Stock | 48,000 | 48,000 | D |
Explanation of responses
- F1The number of securities reported in this row represents the total number of shares purchased by Reporting Person pursuant to the 2015 Officer Stock Ownership Program, a description of which can be found in the current report on Form 8-K filed with the Security Exchange Commission on February 20, 2015.
- F2This includes 55,820 unvested restricted stock units.
- F3Restricted Stock Unit ("RSU") grant pursuant to the 2015 Officer Stock Ownership Program (the "Program"). Reporting Person received a total of 2,058 RSUs, which is equal to 20% of the total shares purchased under the Program. Subject to the provisions of the 2007 Equity Incentive Plan, the RSU grant will vest on the one year anniversary of the date of grant (the "Vesting Date"), provided the Reporting Person does not assign, transfer, pledge or otherwise dispose of the purchased shares prior to the Vesting Date, and remains a Service Provider to the Company through the Vesting Date.
- F4$0.00 is used for technical reasons as there is no price for this security until it vests in the case of RSUs, or until it is exercised in the case of stock options.
- F5This includes 57,878 unvested restricted stock units.
- F6Reporting Person received an aggregate of 32,000 restricted stock units. Subject to the provisions of the 2007 Equity Incentive Plan and Reporting Person's employment and restricted stock unit agreements with the Company, one-third (1/3rd) of the restricted stock units will vest on March 1, 2016, and an additional one-twelfth (1/12th) will vest on the first day of each June, September, December, and March thereafter for the next eight (8) quarters, provided Reporting Person continues to be a Service Provider through each such vesting date.
- F7This includes 89,878 unvested restricted stock units.
- F8Reporting Person received an aggregate of 48,000 stock options. Subject to the provisions of the 2007 Equity Incentive Plan and Reporting Person's employment and stock option agreements with the Company, one-third (1/3rd) of the shares subject to the Stock Options will vest on March 1, 2016 (the "Vesting Commencement Date"), and one-thirty-sixth (1/36th) of the Shares subject to the Stock Option will vest each month thereafter on the same day of the month as the Vesting Commencement Date until all of the Stock Options have vested (three years), provided the Reporting Person continues to be a Service Provider through each such vesting date.
Remarks
Executed pursuant to the Limited Power of Attorney for Section 16 reporting obligations dated October 8, 2013.