"billy sold 33%, it may suggest LG isn't coming this month"
Billy sold because of greed. The shares will be replaced and then some with the new compensation plan. You can bet that everyone who sold recently will receive a large portion of this plan. It seems to have strengthen the ability for insiders to sell shares.
99.1 Press release dated April 5, 2004
Exhibit 99.1
InterDigital Realigns Compensation Structure for Continued Success
KING OF PRUSSIA, Pa.(BUSINESS WIRE)April 5, 2004
Changes Are Part of a Series of Steps Taken by the Company's Board of Directors to the Link with Shareholder Interests
InterDigital Communications Corporation (Nasdaq:IDCC), a leading architect, designer and provider of wireless technology and product platforms, today announced that its Board of Directors has approved changes to its compensation programs designed to more closely link employee compensation to Company performance and to strengthen employee retention. "These changes are part of a series of moves in our ongoing effort to position InterDigital for long-term value creation," said Harry Campagna, Chairman of the Board of Directors. "Our compensation philosophy is driven by our desire to attract and retain the most talented people by offering meaningful compensation, while at the same time promoting a growing level of ownership in the Company among our management and their fellow employees." Beginning in April 2004, a broad group of managers and executives, representing about one-third of InterDigital's workforce, will participate in a program which provides both a cash incentive award tied to long-term company performance goals (LTI) and a grant of restricted stock units. Under the program, the Company will substantially reduce the use of stock option grants as an equity incentive for these employees. While the Company has not made a broad employee stock option grant since 2001, it may from time to time utilize its limited pool of stock options for employees below the manager level. InterDigital also instituted stock ownership guidelines for executive officers and enhanced other elements of compensation for all employees, adding both enhancements to the 401(k) plan, including the potential for a performance-based award each year, and cash awards. The LTI is entirely performance based, with the level of potential payout tied to the achievement of goals associated with the Company's strategic plan. The restricted stock units vest over time, deepening employees' equity stake in the Company. The new compensation structure is the result of a comprehensive review by the Compensation Committee of the Board of Directors, in conjunction with independent consultants, and reflects in-depth analysis of evolving compensation trends in the marketplace. This program represents another step in the ongoing development of InterDigital's business practices and corporate governance policies designed to position the Company for long-term growth and strengthen alignment with shareholder interests.
AI
