SIOUX FALLS, S.D., Sept. 25, 2012 /PRNewswire/ -- LodgeNet
Interactive Corporation (NASDAQ:LNET), the leading provider of
interactive media and connectivity services to hospitality and
healthcare businesses and the consumers they serve, announced that,
as part of Richard L. Battista's
employment as its President and Chief Executive Officer, the
Company granted Mr. Battista 550,000 shares of restricted
stock. 366,667 of those shares vest fully on the first
anniversary of the effective date of Mr. Battista's employment with
the Company, with the remainder vesting in six monthly installments
on the last day of each month beginning on October 31, 2013.
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The Company also granted Mr. Batista options to purchase 550,000
shares of the Company's common stock at an exercise price equal to
the fair market value on the date of grant. These options will
vest in 18 monthly installments commencing on the 19-month
anniversary of the effective date of Mr. Battista's employment. The
Company previously filed a Report on Form 8-K with the SEC on
September 12, 2012 to announce the
hiring of Mr. Battista and the material terms of his employment
agreement, including these equity grants.
About LodgeNet
LodgeNet Interactive Corporation is the leading provider
of interactive media and connectivity services to hospitality and
healthcare businesses and the consumers they serve. Recently named
by Advertising Age as one of the Leading 100 US Media Companies,
LodgeNet Interactive serves approximately 1.6 million hotel rooms
worldwide in addition to healthcare facilities throughout
the United States. The Company's
services include: Interactive Television, Broadband and Advertising
Media Solutions along with nationwide technical and professional
support services. LodgeNet Interactive Corporation owns and
operates businesses under the industry leading brands: LodgeNet,
The Hotel Networks and LodgeNet Healthcare. LodgeNet Interactive is
listed on NASDAQ and trades under the symbol LNET. For more
information, please visit www.lodgenet.com.
SOURCE LodgeNet Interactive Corporation