RealNetworks, Inc. (NASDAQ:RNWK) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
On April 11, 2017, the Compensation Committee of the Board of
Directors of RealNetworks, Inc. approved the 2017 Executive MBO
Plan. The Compensation Committee will administer this plan, which
is to the RealNetworks 2005 Stock Incentive Plan, as amended and
Payouts under the 2017 Executive MBO Plan will be determined by
our Compensation Committee and will be based 50% on company
and/or divisional financial performance and 50% on individual
performance. Financial performance will be measured by the
achievement of specific financial goals related to revenue
(weighted at 25% of total performance) and adjusted EBITDA
(weighted at 25% of total performance). Adjusted EBITDA is a
non-GAAP measure that we define as GAAP net income (loss) and
excludes the impact of the following: interest income (loss),
income tax expense, gain on investments, equity in net loss of
Rhapsody, depreciation and amortization, acquisitions-related
intangible asset amortization, stock-based compensation,
restructuring and other charges, and lease exit and related
Any bonuses payable to the 2017 Executive Bonus Plan are expected
to be paid 50% in cash and 50% in the form of fully vested
restricted stock units.
Item 9.01. Financial Statements and Exhibits.
to the rules and regulations of the SEC, the attached exhibits
are deemed to have been furnished to, but not filed with, the
2017 Executive MBO Plan
About RealNetworks, Inc. (NASDAQ:RNWK)
RealNetworks, Inc. (RealNetworks) is engaged in creating applications and services, which help in connecting with digital media. The Company provides the digital media services and products it creates to consumers, mobile carriers and other businesses. It operates through three segments: RealPlayer Group, Mobile Entertainment and Games. Its RealPlayer Group business consists of its photo and video sharing product, RealTimes and its RealPlayer media player software, and related products and services. Its Mobile Entertainment segment consists primarily of the digital media services, which it provides to network service providers as software as a service (SaaS) offerings. It owns and operates casual games service, offering casual games through digital downloads, online subscription play, third-party portals, social networks and mobile devices. Its casual games include board, card, puzzle, word and hidden-object games. It develops, publishes, licenses and distributes casual games. RealNetworks, Inc. (NASDAQ:RNWK) Recent Trading Information
RealNetworks, Inc. (NASDAQ:RNWK) closed its last trading session 00.00 at 4.29 with 829,360 shares trading hands.
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