8-K 1 htm_47600.htm LIVE FILING Lionbridge Technologies, Inc. (Form: 8-K)  

 


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):   May 1, 2013

Lionbridge Technologies, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

     
Delaware 000-26933 04-3398462
_____________________
(State or other jurisdiction
_____________
(Commission
______________
(I.R.S. Employer
of incorporation) File Number) Identification No.)
      
1050 Winter Street, Suite 2300, Waltham, Massachusetts   02451
_________________________________
(Address of principal executive offices)
  ___________
(Zip Code)
     
Registrant’s telephone number, including area code:   781-434-6000

Not Applicable
______________________________________________
Former name or former address, if changed since last report

 

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:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 8. Other Events

Beginning in 2010, Lionbridge Technologies, Inc. granted performance-based equity awards (the “PSA”) to key employees under its 2005 Stock Incentive Plan and its 2011 Stock Incentive Plan. These PSAs vest in two or three years from date of grant only to the extent the performance metrics related to revenue and profitability are attained. Determination of Average Unadjusted Burn Rate for 2010-2012 with respect to equity grants under the Lionbridge Plans is based on the actual number of PSAs issued in any such year (after determination of attainment of performance metrics), rather than the number of PSAs granted in any such year (as PSA grants may be forfeited if performance metrics have not been met).

Accordingly, the Company’s Average Unadjusted Burn Rate for 2010-2012 is 3.85%, determined as follows:

                                         
    A= Total Number of   B=Number of            
    Full Value Awards   Performance Awards            
    and Performance   Granted and   C=Number of        
    Awards Granted   included in Total   Performance Awards   D=Number of Options   E-Weighted Common
Year   (“Total Awards”)   Awards   issued   Granted   Shares Outstanding
2010
    2,065,511       842,000       0       470,500       56,690,000  
2011
    2,134,826       340,000       0       424,500       57,859,000  
2012
    2,090,621       412,500       694,549       422,500       59,102,000  

Column A minus Column B, plus Column C, plus Column D
Divided by Column E = “Sub-Total”. Divide “Sub-Total” by 3 for the Average Unadjusted Burn Rate for 2010-2012.


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.

         
    Lionbridge Technologies, Inc.
          
May 1, 2013   By:   Margaret A. Shukur
       
        Name: Margaret A. Shukur
        Title: Senior Vice President and General Counsel