Delaware | 001-31989 | 91-2145721 | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
250 Williams Street, Atlanta, Georgia | 30303 | |
(Address of Principal Executive Offices) | (Zip Code) |
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
| The cash fee for directors for attendance at a board meeting by telephone increased from $500 to $750 per meeting. | |
| The annual stock option grant to each board member in 2007 shall be an option to acquire up to 5,000 shares instead of an option to acquire up to 2,000 shares of the Companys common stock. The options have an exercise price equal to 100% of the fair market value of Internaps common stock on the date of grant and shall be fully vested and exercisable as of the date of grant. | |
| Each director will receive an annual grant of 2,500 restricted stock units, which will vest ratably over a three-year period, subject to the terms in the stock grant agreement and stock plan under which the restricted stock units shall be granted. | |
| The annual retainer paid to the Chair of the Compensation Committee of the Board of Directors will increase from $5,000 to $7,500. | |
| The Company will pay other members of the Compensation Committee an annual retainer of $2,500. | |
| The Company will pay members of the Audit Committee, other than the Chair, an annual retainer of $5,000. The Audit Committee Chairs retainer is to remain unchanged at $10,000. | |
| The total annual retainer for the Chairman of the Board of Directors will increase from $30,000 to $40,000. | |
| Under the prior policy, new non-employee directors received an initial grant of options to acquire up to 25,000 shares of common stock. As of January 1, 2007, new non-employee directors instead receive a grant of 12,500 restricted stock units, which will vest ratably over a three-year period, subject to the terms of the stock grant agreement and stock plan under which the restricted stock units shall be granted. |
INTERNAP NETWORK SERVICES CORPORATION (Registrant) |
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By: | /s/ Dorothy An | |||
Name: | Dorothy An | |||
Title: | Vice President and General Counsel | |||