impluCorporation

News Release by VERISIGN ($VRSN) - Compensation Committee determined to grant restricted stock units

On December 10, 2010, VeriSign, Inc. (the "Company") announced that on December 9, 2010, its Board of Directors declared a special cash dividend (the "Dividend") of $3.00 per share of its common stock, par value $0.001 per share, to be paid on December 28, 2010 (the "Payment Date") to shareholders of record at the close of business on December 20, 2010 (the "Record Date"). The Company's stock declined by approximately $3.00 on the ex-dividend date. On January 21, 2011, the Compensation Committee determined to grant restricted stock units ("RSUs") equal in value to the $3.00 Dividend, based on the price of the Company's common stock on the Payment Date, to holders of stock options outstanding under the Company's equity plans on the Record Date. For this purpose, the $32.94 stock closing price on the Payment Date was used to compute the number of RSUs to be issued, with rounding to the nearest whole share. Vested options priced below $41 received $3.00 worth of immediately vested RSUs per option share, reduced by the amount of RSUs withheld for tax withholding purposes. Unvested options priced below $41 received unvested RSUs vesting two years from the date of issuance, provided the holder continues to be employed by, or provide services to, the Company. No RSUs were issued with respect to options priced at $41 or above. The RSUs were granted under the Company's 2006 Equity Incentive Plan. The Compensation Committee granted RSUs to all 298 affected option holders, including employees and directors serving on the Board of Directors, as applicable in each case. The table below shows the number of RSUs issued to each of the named executive officers per applicable vesting schedule.

Tags: Dividend
Related URLs: VERISIGN INC/CA
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