Thursday, February 07, 2008

Rambus Inc. CFO pays his taxes

In an SEC filng Satish Rishi, Rambus Inc. CFO and a Senior VP, reported that he parted with enough restricted stock units to pay his taxes associated with a grant of RSUs.

On October 20, 2007, Mr. Rishi was granted 100,000 restricted stock units of which 25,000 RSUs vested on February 1, 2008, another 25k on February 2, 2009, another 25K on February 1, 2010 and the final 25K on February 1, 2011.

On February 1, 2008, an aggregate of 25,000 shares of common stock of the Company were issued, of which 8,937 shares of common stock were withheld by the Company to satisfy Mr. Rishi's tax withholding obligation.

After the transaction, Mr. Rishi owned 56,063 shares.

On October 18, 2006, the Board of Directors of Rambus Inc. adopted Stock Ownership Guidelines "to align the interests of Rambus' executive officers and independent directors with the long-term interests of Rambus' shareholders."

Section 16 executives are to achieve accumulated value of common stock or other qualifying equity holdings equal to three times his or her annual base salary by January 1, 2012 or five years after assuming their position, whichever is later.

Mr. Rishi's base salary in 2006 was $208,077 and will be $318,240 in 2008. With the share price of Rambus Inc. at $17.34, Mr.Rishi is on the cusp of his required equity accumulation . . .

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