Tivo tivos its proxy statement again…

June 23, 2008

Late Friday, Tivo (TIVO), which as we’ve footnoted before, has a tendency to make revised filings, filed a revised proxy statement with the SEC. On the face of it, the revision was meant to replace director Charles B. Fruit who died last month with Mark Perry, who had planned to step down in August, and change the number of directors to be elected from two to three.

But there were actually some additional changes to the filing including some new language of options and the vesting of those options as part of the company’s 2008 Equity Incentive Award plan, which shareholders are being asked to vote on. The new language includes this:

Upon the grant of an award, the administrator may provide that the period during which the award will vest or become exercisable will accelerate, in whole or in part, upon the occurrence of one or more specified events without limitation as to the number of shares. Following the grant of an award, the administrator may also provide that the period during which the award will vest or become exercisable will accelerate, in whole or in part, in connection with a change in control (as defined in the 2008 Plan) or in connection with a holder’s termination of employment or service by reason of the holder’s retirement, death or disability.

There were a few other changes and some additional language — most of it having to do with the 2008 program and the elimination of the old “Directors’ Plan”. Just another example of things that manage to find their way to the SEC late on a Friday night.

And now for a bit of tech humor: a footnoted reader sent me a link to this site which allows you to create your own Yahoo (YHOO) resignation letter. The letter has been making its way around some of the tech blogs, but since there’s not always a lot of crossover between those who read SEC filings and those who spend time on the tech blogs, I thought I’d share it with you.

Leave a Reply

You must be logged in to post a comment.