SEC Form 4 · accession 0001391127-16-000286
Limelight Networks, Inc. · LLNW
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Sajid Malhotra
Officer — CFO
Period of report
Aug 31, 2016
Accepted (ET)
Sep 2, 2016 · 4:19 pm EDT
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 StockF1,F2 | Aug 31, 2016 | A | 7,543 | $1.78 | A | 1,065,171 | D | |
| Common StockF2 | Aug 31, 2016 | F | 2,328 | $1.78 | D | 1,062,843 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Consists of a stock award in connection with the Company's 2015 Salary-for-Equity program made pursuant to the Company's 2007 Equity Incentive Plan. Reporting Person elected to participate in this program and receive payment of 50% of his base salary in shares of the Company's common stock. The number of shares issued was determined by (i) dividing 1/12 of Reporting Person's enrolled salary by (ii) the trailing 30-day closing average of the Company's common stock ($1.80 / share), rounded up to the nearest whole share.
- F2This includes 366,342 unvested restricted stock units.
- F3The forfeiture reported in this row represents restricted stock units that were withheld by the Company solely for the purpose of satisfying tax obligations arising upon the automatic vesting of 7,543 restricted stock units.
Remarks
Executed pursuant to the Limited Power of Attorney for Section 16 reporting obligations dated March 25, 2014.