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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): January 24, 2013
LogMeIn, Inc.
(Exact Name of Registrant as Specified in Charter)
| Delaware | 001-34391 | 20-1515952 | ||
| (State or Other Jurisdiction of Incorporation or Organization) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
| 500 Unicorn Park Drive Woburn, Massachusetts |
01801 | |||
| (Address of principal executive offices) | (Zip Code) | |||
Registrant’s telephone number, including area code: (781)-638-9050
(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)) |
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| Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
| SIGNATURE |
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On January 24, 2013, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of LogMeIn, Inc. (the “Company”) approved the following salary and performance based cash incentive bonus compensation for the Company’s named executive officers for calendar year 2013:
Salary and Cash Incentive Bonus Compensation:
Annual cash incentive bonuses are intended to compensate for the achievement of Company strategic, operational and financial goals and/or individual performance objectives. Amounts payable are discretionary and typically calculated as a percentage of the applicable executive’s base salary, with higher ranked executives typically being compensated at a higher percentage of base salary. These bonus awards are in two levels based on the Company achieving certain specified operating metrics. The applicable bonus payable will be paid following the completion of 2013.
The following table sets forth the 2013 salary and bonus, assuming achievement of 100% of the target based on the foregoing criteria, for each of the Company’s named executive officers (as defined in Item 402(a)(3) of Regulation S-K):
| Name of Executive Officer |
2013 Base Salary |
Cash Bonus (Assuming Achievement of 100% of Target) |
||||||
| Michael K. Simon |
$ | 370,000 | $ | 370,000 | ||||
| James F. Kelliher |
$ | 275,000 | $ | 148,400 | ||||
| Michael Ewing |
$ | 300,000 | $ | 120,000 | ||||
| Seth L. Shaw |
$ | 215,000 | $ | 185,000 | ||||
| Marton B. Anka |
$ | 260,000 | $ | 130,000 | ||||
| Andrew F. Burton |
$ | 230,000 | $ | 92,000 | ||||
| Michael J. Donahue |
$ | 237,000 | $ | 94,800 | ||||
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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.
| LOGMEIN, INC | ||||||
| Date: January 29, 2013 | By: | /s/ Michael K. Simon | ||||
| Michael K. Simon | ||||||
| President and Chief Executive Officer | ||||||