FORM 3 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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1. Name and Address of Reporting Person*
(Street)
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2. Date of Event Requiring Statement
(Month/Day/Year) 05/08/2008 |
3. Issuer Name and Ticker or Trading Symbol
EARTHLINK INC [ ELNK ] |
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4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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5. If Amendment, Date of Original Filed
(Month/Day/Year) |
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6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Beneficially Owned | |||
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1. Title of Security (Instr. 4) | 2. Amount of Securities Beneficially Owned (Instr. 4) | 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 4. Nature of Indirect Beneficial Ownership (Instr. 5) |
Common Stock | 1,688 | D |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||
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1. Title of Derivative Security (Instr. 4) | 2. Date Exercisable and Expiration Date (Month/Day/Year) | 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) | 4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) | 6. Nature of Indirect Beneficial Ownership (Instr. 5) | ||
Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Stock Options(1) | 07/28/2000 | 07/28/2008 | Common Stock | 6,000 | $23 | D | |
Stock Options(1) | 12/18/1999 | 12/18/2008 | Common Stock | 2,000 | $30.3438 | D | |
Stock Options(1) | 05/21/2000 | 05/21/2009 | Common Stock | 11,118 | $39.75 | D | |
Stock Options(1) | 01/24/2001 | 01/24/2010 | Common Stock | 3,000 | $28.2508 | D | |
Stock Options(1) | 02/28/2001 | 02/28/2010 | Common Stock | 18,000 | $25.125 | D | |
Stock Options(1) | 07/19/2001 | 08/29/2010 | Common Stock | 45,000 | $10.0625 | D | |
Stock Options(1) | 01/24/2003 | 01/24/2012 | Common Stock | 20,000 | $9.64 | D | |
Stock Options(2) | 10/17/2008 | 10/17/2012 | Common Stock | 7,500 | $5.1 | D | |
Stock Options(1) | 12/19/2003 | 12/19/2012 | Common Stock | 1 | $5.56 | D | |
Stock Options(3) | 07/21/2005 | 07/21/2014 | Common Stock | 8,750 | $9.01 | D | |
Stock Options(2) | 05/04/2011 | 05/04/2015 | Common Stock | 10,000 | $9.51 | D | |
Stock Options(3) | 09/12/2006 | 09/12/2015 | Common Stock | 10,000 | $10.36 | D | |
Stock Options(3) | 10/24/2007 | 10/24/2016 | Common Stock | 26,250 | $6.9 | D | |
Restricted Stock Units(4) | 07/21/2008 | 07/21/2014 | Common Stock | 1,000 | (4) | D | |
Restricted Stock Units(4) | 09/12/2008 | 09/12/2015 | Common Stock | 1,500 | (4) | D | |
Restricted Stock Units(4) | 10/24/2008 | 10/24/2016 | Common Stock | 8,750 | (4) | D | |
Restricted Stock Units(5) | 06/01/2008 | 08/27/2017 | Common Stock | 12,000 | (5) | D | |
Restricted Stock Units(6) | 02/08/2009 | 02/08/2018 | Common Stock | 70,000 | (6) | D |
Explanation of Responses: |
1. These options are fully vested and exercisable. |
2. These options vest and become exercisable six years after the date of grant, but were subject to four acceleration clauses if EarthLink met certain operating and financial performance targets. |
3. These stock options vest and become exercisable as follows: (i) 25% of the options become exercisable one year after the date of the option grant, and (ii) an additional 6.25% of the options become exercisable each quarter thereafter until fully vested. |
4. The Restricted Stock Units vest and become exercisable 50% on the second anniversary date of the date of grant, and 25% on the next two anniversary dates of the date of grant. Vested Restricted Stock Units will be converted and distributed to the Reporting Person, without payment, in shares of Common Stock on a unit-for-share basis. |
5. The Restricted Stock Units vest and become exercisable 40% on June 1, 2008, and 60% on January 15, 2009. Vested Restricted Stock Units will be converted and distributed to the Reporting Person, without payment, in shares of Common Stock on a unit-for-share basis |
6. The Restricted Stock Units vest and become exercisable as follows: 25% vest one-third a year over a three year period and 75% are dependent on achievement of EarthLink's 2008 free cash flow performance target and then if that target is achieved, 50% of those Restricted Stock Units vest after one additional year of employment following the measurement of such achievement and 50% vest after an additional year of employment. |
/s/ Bradley A. Ferguson | 05/12/2008 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |