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EX-10.1 - COMPENSATION INFORMATION FOR NAMED EXECUTIVE OFFICERS - WEB.COM GROUP, INC.v302724_ex10-1.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): February 8, 2012

 

Web.com Group, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware   000-51595   94-3327894

(State or other jurisdiction of incorporation)

  (Commission File Number)  

(IRS Employer Identification No.)

         
12808 Gran Bay Parkway West, Jacksonville, FL   32258
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (904) 680-6600

 

 

(Former name or former address, if changed since last report.)

 

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):

 

£  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

£  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

£  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

£  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 
 

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

(e) Compensatory Arrangements of Certain Officers

 

Payment of 2011 Bonuses for Named Executive Officers

 

On February 8, 2012, the Compensation Committee (the “Compensation Committee”) of the Board of directors (the “Board”) of Web.com Group, Inc. (the “Company”), approved cash bonus payments for 2011 to be paid to certain of the Company’s named executive officers (as defined in Item 402(a)(3) of Regulation S-K). The payments were based on the Compensation Committee’s evaluation of certain individual and corporate performance objectives achieved during fiscal 2011. The 2011 bonus payments will be paid as soon as practical, and are set forth on Exhibit 10.1 to this Current Report on Form 8-K.

 

Establishment of 2012 Target Bonuses for Named Executive Officers

 

On February 8, 2012, the Compensation Committee established the target bonuses for the Company’s named executive officers for 2012, expressed as a percentage of the annual base salary for each named executive officer. Bonuses will be earned based on the achievement of certain levels of non-GAAP earnings and revenue (the “Financial Performance Indicators”) and may be paid in a mixture of cash and stock awards at the discretion of the Compensation Committee. The amount of a bonus for a named executive officer that will ultimately be paid for performance in 2012 will be based on the Compensation Committee’s evaluation, in its sole discretion, of the Company’s Financial Performance Indicators, other factors the Compensation Committee deems relevant and that named executive officer’s performance in 2012. The target bonuses for the named executive officers for 2012, expressed as a percentage of each named executive officer’s annual base salary, are set forth on Exhibit 10.1 to this Current Report on Form 8-K.

 

Equity Grants to Named Executive Officers

 

On February 8, 2012, the Compensation Committee approved the grant of restricted stock awards under the Company’s 2008 Amended and Restated Equity Incentive plan (the “2008 Plan”) and stock options under the Company’s 2005 Equity Incentive Plan (the “2005 Plan”) to the Company’s named executive officers. The equity grants are set forth on Exhibit 10.1 to this Current Report on Form 8-K.

 

 
 

 

SIGNATURES

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.

 

  Web.com Group, Inc.
   
   
Date: February 14, 2012 By:  /s/ Matthew P. McClure
    Matthew P. McClure, Secretary

 

 
 

 

INDEX OF EXHIBITS

 

Exhibit     
No.   Description
10.1   Compensation Information for Named Executive Officers+

 

 

+ Indicates management contract or compensatory plan.