Bob Lyons - Aug 2, 2021 Form 4 Insider Report for Limelight Networks, Inc. (EGIO)

Role
CEO, Director
Signature
Bob Lyons by: James R. Todd, Attorney-In-Fact
Stock symbol
EGIO
Transactions as of
Aug 2, 2021
Transactions value $
$179,902
Form type
4
Date filed
8/4/2021, 08:01 PM
Next filing
Feb 9, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction EGIO Common Stock Award $238K +80.1K +22.17% $2.97 441K Aug 2, 2021 Direct F1, F2
transaction EGIO Common Stock Tax liability -$57.9K -19.5K -4.42% $2.97 422K Aug 2, 2021 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to reporting person's employment agreement, he was to receive $225,000 of his cash signing bonus on the six-month anniversary of his employment with the Company. Reporting person desired to convey confidence in the Company's ability to execute against its plans and requested that the signing bonus due to him be converted into Company stock. On July 31, 2021, the Compensation Committee approved entry into an amendment to the reporting person's employment agreement converting the signing bonus into 80,071 immediately-vested RSUs.
F2 This includes 361,147 unvested restricted stock units.
F3 The forfeiture reported in this row represents shares that were withheld by the Company solely for the purpose of satisfying tax obligations arising upon the issuance of 80,071 shares.

Remarks:

Executed pursuant to the Limited Power of Attorney for Section 16 reporting obligations dated January 25, 2021.