INTERRENT REIT TRUST 8-K 2009
Registrant’s telephone number, including area code: (404) 302-9700
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):
On March 25, 2009, the Compensation Committee of the Board of Directors of Internap Network Services Corporation (the “Company”) approved the 2009 Long-Term Incentive Plan (the “2009 Plan>”).
Under the 2009 Plan, named executive officers and other key contributors are eligible for the award of restricted common stock and options to purchase common stock. Fifty percent of the aggregate of each award are time-based restricted common stock and 50% are options to purchase common stock. The time-based restricted common stock vests in four equal annual installments on the anniversary of the grant date. The options to purchase common stock vest 25% after one year and in equal monthly increments for three years thereafter. The options have a 10-year term.
Awards Pursuant to the 2009 Plan
The Compensation Committee awarded the following grants under the 2009 Plan on March 25, 2009. The stock options have an exercise price of $2.54.
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.