InterDigital, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by InterDigital, Inc. on June 28, 2010. The report discloses the election of a new member to the company's Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes and does not contain financial performance data.
Material Changes
The material change reported is the election of Jean F. Rankin, Executive Vice President, General Counsel and Secretary of LSI Corporation, as a new director of InterDigital, Inc. on June 28, 2010.
Compensation and Governance Details
Ms. Rankin's compensation aligns with the company's program for non-management directors as outlined in the 2010 proxy statement. Upon election, she received:
- An initial election award of 4,000 restricted stock units (RSUs), vesting in full on the first anniversary of the grant date.
- A prorated award of 3,726 RSUs for partial service during the 2010-2011 board year, vesting in full on June 3, 2011.
Investor Verification Checklist
- Verify the full text of the press release attached as Exhibit 99.1 for additional context on the director election.
- Review the 2010 Proxy Statement filed on April 30, 2010, to confirm the standard compensation structure for non-management directors.
- Confirm the vesting schedules and grant dates for the 7,726 total RSUs awarded to Ms. Rankin.