0001391127-22-000037.txt : 20220317 0001391127-22-000037.hdr.sgml : 20220317 20220317171340 ACCESSION NUMBER: 0001391127-22-000037 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 12 CONFORMED PERIOD OF REPORT: 20220315 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20220317 DATE AS OF CHANGE: 20220317 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Limelight Networks, Inc. CENTRAL INDEX KEY: 0001391127 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 201677033 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33508 FILM NUMBER: 22749829 BUSINESS ADDRESS: STREET 1: 2220 WEST 14TH STREET CITY: TEMPE STATE: AZ ZIP: 85281 BUSINESS PHONE: 602-850-5000 MAIL ADDRESS: STREET 1: 2220 WEST 14TH STREET CITY: TEMPE STATE: AZ ZIP: 85281 8-K 1 llnw-20220315.htm 8-K llnw-20220315

Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
March 15, 2022
(Exact name of Registrant as specified in its charter)
(State or other jurisdiction of
incorporation or organization)
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:
Title of each classTrading Symbol(s)Name of exchange on which registered
Common stock, par value $0.001 per shareLLNWNASDAQ
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):
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))
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
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 (“Committee”) of the Board of Directors of Limelight Networks, Inc. (“Limelight”) reviewed the attainment levels for the annual bonus payout with respect to services performed in fiscal year 2021 for participants under Limelight’s Master Executive and Management Bonus Plan, a copy of which was furnished with a Current Report on Form 8-K on May 19, 2009 (the “Plan”). The Committee determined that payout against the Plan would result in 0% payout to participants. Nevertheless, the Committee acknowledged that certain executives and employees put forth extraordinary effort in restructuring and rebuilding the Company to allow for significant anticipated financial improvements in 2022. Accordingly, the Committee deemed it in the best interests of Limelight and its stockholders to create a recognition and retention pool, wherein 40% of the pool is to be paid to participants in fully-vested restricted stock units on March 15, 2022, to recognize 2021 performance, and the remaining 60% of the pool is to be paid to participants in fully-vested restricted stock units on December 1, 2022, if recipient is still actively employed and in good standing on December 1, 2022 (the “Retention Plan”). Participants of the Retention Plan include Limelight’s principal executive officer, principal financial officer, and the other named executive officers. The table below sets forth the maximum amounts to Limelight’s principal executive officer, principal financial officer, and other named executive officers:

Executive OfficerRecognition GrantRetention Grant
Robert Lyons
Chief Executive Officer and Director
Dan Boncel
Chief Financial Officer
Christine Cross
Chief Client Success and Marketing Officer
Michael DiSanto
Chief Administrative and Legal Officer & Secretary

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.
Dated: March 17, 2022
By:/s/ Michael DiSanto
Michael DiSanto
Chief Administrative and Legal Officer & Secretary

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Cover Page
Feb. 09, 2021
Cover [Abstract]  
Document Type 8-K
Document Period End Date Mar. 15, 2022
Entity Registrant Name LIMELIGHT NETWORKS, INC.
Entity Incorporation, State or Country Code DE
Entity File Number 001-33508
Entity Tax Identification Number 20-1677033
Entity Address, Address Line One 2222 West 14th Street
Entity Address, City or Town Tempe
Entity Address, State or Province AZ
Entity Address, Postal Zip Code 85281
City Area Code 602
Local Phone Number 850-5000
Title of 12(b) Security Common stock, par value $0.001 per share
Trading Symbol LLNW
Security Exchange Name NASDAQ
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