TEMPE, Ariz.--(BUSINESS WIRE)--Limelight Networks, Inc. (Nasdaq:LLNW) (Limelight), a leading provider
of edge cloud services, today announced the Compensation Committee of
the Board of Directors of Limelight Networks, Inc. approved a stock for
salary program, wherein Messrs. Robert Lento, Sajid Malhotra and Michael
DiSanto elect to receive payment of half of their respective 2019 base
salary in shares of Limelight’s common stock beginning on February 1,
“As I stated during our recent earnings call, I am more excited than I
have ever been about the opportunity that lies ahead for Limelight,”
said Lento, Limelight’s Chief Executive Officer. “We believe that 2019
will be a record year for our company across several financial and
non-financial metrics, despite the early headwinds, as demonstrated by
our full year guidance. The deep disconnect in what we see as the
long-term opportunity and the current equity value is stark in our view.
As a result, and to demonstrate our confidence in Limelight’s ability to
execute against the company’s 2019 guidance, Sajid, Mike and I are each
willing to replace half of our base salary with equity, similar to what
the three of us did in 2016.”
On the last trading day of each calendar month, each participant will
receive the number of shares of Limelight’s common stock determined by
dividing (i) 1/12th of his or her enrolled salary by (ii) the trailing
30-day closing average of Limelight’s common stock, rounded up to the
nearest whole share. The election by Messrs. Lento, Malhotra and DiSanto
is irrevocable and will continue throughout 2019, subject to certain
market conditions. The shares of common stock will be issued under
Limelight’s Amended and Restated 2007 Equity Incentive Plan. The program
is designed to comply with the requirements of Rule 10b5-1 of the
Securities Exchange Act of 1934, as amended.
Limelight Networks, Inc. (NASDAQ: LLNW), a leading provider of digital
content delivery, video, cloud security, and edge computing services,
empowers customers to provide exceptional digital experiences.
Limelight’s edge services platform includes a unique combination of
global private infrastructure, intelligent software, and expert
support services that enable current and future workflows. For more
information, visit www.limelight.com,
Copyright (C) 2019 Limelight Networks, Inc. All rights reserved. All
product or service names are the property of their respective owners.
Limelight Networks, Inc.
Sajid Malhotra, 602-850-5778