TechTarget Announces CEO’s Sale of Shares for Expiring Options
September 11 2009 - 4:01PM
Business Wire
TechTarget, Inc. (NASDAQ: TTGT) today announced that Greg
Strakosch, Chief Executive Officer, sold a total of 258,750 common
shares on September 9, 2009. The shares that were sold were subject
to an option granted to Mr. Strakosch in September 1999. Pursuant
to its terms, the option would have expired on September 17, 2009,
in which event Mr. Strakosch would have lost the right to acquire
those shares. Mr. Strakosch has incurred a significant personal
“alternative minimum tax” liability in connection with the exercise
of the option to purchase these shares, which he would have
incurred whether or not any of the subject shares were sold. Mr.
Strakosch sold the shares in part to pay the applicable taxes. The
number of shares sold equals less than 10% of the total number of
TechTarget shares that, subject to vesting, Mr. Strakosch has the
right to acquire, either in the form of options or restricted stock
units.
About TechTarget
TechTarget, a leading online technology media company, gives
technology providers ROI-focused marketing programs to generate
leads, shorten sales cycles, and grow revenues. With its network of
more than 60 technology-specific websites and more than 7.5 million
registered members, TechTarget is a primary Web destination for
technology professionals researching products to purchase. The
company is also a leading provider of independent, peer and vendor
content, a leading distributor of white papers, and a leading
producer of webcasts, podcasts, videos and virtual trade shows for
the technology market. Its websites are complemented by numerous
invitation-only events. TechTarget provides proven lead generation
and branding programs to top advertisers including Cisco, Dell,
EMC, HP, IBM, Intel, Microsoft, SAP and Symantec.
(C) 2009 TechTarget, Inc. All rights reserved. TechTarget and
the TechTarget logo are registered trademarks of TechTarget.
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