Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
NAVI > SEC Filings for NAVI > Form 8-K on 13-Apr-2009All Recent SEC Filings

Show all filings for NAVISITE INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K for NAVISITE INC


13-Apr-2009

Change in Directors or Principal Officers


Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On April 13, 2009, NaviSite, Inc. (the "Company") announced that R. Brooks Borcherding was appointed the Company's Senior Vice President of Sales and Chief Revenue Officer, which appointment will be effective as of April 13, 2009. In connection with Mr. Borcherding's appointment as Senior Vice President of Sales and Chief Revenue Officer, the Company set his annual base salary at $200,000 and agreed to grant to Mr. Borcherding 200,000 shares of the Company's common stock under the Company's Amended and Restated 2003 Stock Incentive Plan. The shares issued to Mr. Borcherding will be restricted and will vest at the rate of 25% on the six month anniversary of the date of grant and thereafter in equal amounts monthly over the following three year period until fully vested on the 42nd monthly anniversary of the date of grant, provided Mr. Borcherding remains an employee of the Company on each such vesting date. Mr. Borcherding is eligible to receive an annual bonus of up to 115% of $325,000 upon the achievement of certain corporate objectives. Mr. Borcherding is guaranteed a fiscal fourth quarter of 2009 bonus of at least $60,938.
From 2005 until April 2009, Mr. Borcherding served as the Strategy, Planning and Operations Director of Cisco Systems, Inc. From 1997 to 2005, Mr. Borcherding served as the Global Solutions Director of Avaya Inc. Mr. Borcherding is 42 years old. There are no family relationships between Mr. Borcherding and any director or other executive officer of the Company. Item 9.01 Financial Statements and Exhibits.
(d) Exhibits The exhibit listed in the Exhibit Index below is filed with this report.


Table of Contents

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: April 13, 2009 NaviSite, Inc.

By: /s/ James W. Pluntze James W. Pluntze Chief Financial Officer


Table of Contents

  Add NAVI to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for NAVI - All Recent SEC Filings
Sign Up for a Free Trial to the NEW EDGAR Online Pro
Detailed SEC, Financial, Ownership and Offering Data on over 12,000 U.S. Public Companies.
Actionable and easy-to-use with searching, alerting, downloading and more.
Request a Trial      Sign Up Now


Copyright © 2010 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.