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RVBD » Topics » 2008 Grants of Plan-Based Awards

This excerpt taken from the RVBD DEF 14A filed Apr 24, 2009.

2008 Grants of Plan-Based Awards

The following table sets forth each equity award granted to our named executive officers during fiscal year 2008.

 

Name

   Grant Date   Estimated
Future
Payouts Under
Non-Equity
Incentive
Plan Awards		   All Other
Stock
Awards:
Number of
Shares of
Stock or
Units
(#)		   All Other
Option
Awards:
Number of
Securities
Underlying
Options
(#)		   Exercise or
Base
Price of
Option
Awards
($/Sh)		   Grant Date
Fair
Value of
Stock
and Option
Awards
($) (3)
    Threshold
($) (1)		   Target
($) (2)		        

Jerry M. Kennelly

   05/01/08   106,250   425,000   100,000   433,333   14.38   4,214,798

Randy S. Gottfried

   05/01/08   33,750   135,000   40,000   190,000   14.38   1,792,720

Steven McCanne, Ph.D.  

   05/01/08   33,750   135,000   80,000   453,333   14.38   4,055,358

Eric Wolford

   05/01/08   40,000   160,000   50,000   300,000   14.38   2,641,400

David M. Peranich

   05/01/08   62,500   250,000   40,000   126,667   14.38   1,386,882

 

(1) This column sets forth the annual threshold amount payout based on 85% of plan for each executive’s non-equity incentive plan payment for 2008.

 

(2) This column sets forth the annual target amount payout based on 100% of plan for each executive’s non-equity incentive plan payment for 2008.

 

(3) Represents the combined fair value of stock options and stock awards as of the date they were granted, computed in accordance with SFAS 123(R).

 

31

Table of Contents

Description of Awards Granted in 2008

Each of Mr. Kennelly, Dr. McCanne and Messrs. Peranich, Wolford and Gottfried were granted:

(i) non-qualified stock options to purchase shares of common stock on May 1, 2008 at an exercise price of $14.38 per share. These options vest and become exercisable ratably over 48 months from May 1, 2008. In addition, the options will become vested with respect to 100% of the shares subject to the option if the Company is subject to a change in control and such officer’s employment is involuntarily terminated within 12 months following the change in control; and

(ii) RSUs on May 1, 2008 that vest with respect to 25% of the total units granted on May 15, 2009 and 12.5% of the total units granted every six months thereafter. In addition, the RSUs will become vested with respect to 100% of the shares subject to the RSU if the Company is subject to a change in control and such officer’s employment is involuntarily terminated within 12 months following the change in control.

"2008 Grants of Plan-Based Awards" elsewhere:

Blue Coat Systems (BCSI)
Ciena Corporation (CIEN)
Digi International (DGII)
Extreme Networks (EXTR)
Pericom Semiconductor (PSEM)
Powerwave Technologies (PWAV)
Sycamore Networks (SCMR)
Super Micro Computer (SMCI)
Symmetricom (SYMM)
Zhone Technologies (ZHNE)
Citrix Systems (CTXS)
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