8-KLeadership ChangesExhibits & Filings

AMERICAN TOWER CORP /MA/ 8-K Report, Executive Changes (Mar 13, 2007)

Filed March 13, 2007For Securities:AMT

Summary

On March 13, 2007, American Tower Corporation (AMT) announced a key executive appointment through a Form 8-K filing. Edmund DiSanto is joining the company as Executive Vice President, Chief Administrative Officer, and General Counsel, effective April 1, 2007. In this senior leadership role, Mr. DiSanto will oversee critical functions including legal, risk management, compensation, and human resources, indicating a strategic strengthening of the company's administrative and legal framework. The filing also details Mr. DiSanto's compensation package, which includes a base salary of $350,000, a target annual bonus of 60% of his base salary, and a recommendation for an option grant of 200,000 shares of Class A common stock, subject to Board approval. The agreement also outlines severance benefits, including 18 months of salary continuation and health benefits, should Mr. DiSanto be terminated without cause or resign for good reason, subject to his signing a separation agreement with customary restrictive covenants.

Key Highlights

  • 1Appointment of Edmund DiSanto as Executive Vice President, Chief Administrative Officer, and General Counsel, effective April 1, 2007.
  • 2Mr. DiSanto will oversee legal, risk management, compensation, and human resources functions.
  • 3Initial base salary for Mr. DiSanto set at $350,000.
  • 4Target annual cash bonus potential of 60% of base salary.
  • 5Potential grant of 200,000 stock options, subject to Compensation Committee approval.
  • 6Severance package includes 18 months of salary and health benefits upon termination without cause or resignation for good reason.
  • 7Severance is contingent upon signing a separation and release agreement with confidentiality, non-solicitation, and non-compete clauses.

Frequently Asked Questions

Edmund DiSanto is a new executive joining American Tower as Executive Vice President, Chief Administrative Officer, and General Counsel. He will be responsible for overseeing the company's legal affairs, risk management, compensation, and human resources departments. He comes to AMT from Pratt & Whitney, a unit of United Technologies Corporation, where he held various legal and business development roles.

Mr. DiSanto will receive an initial base salary of $350,000, with a target annual cash bonus of up to 60% of his base salary. He is also recommended for an option to purchase 200,000 shares of the company's Class A common stock, pending approval by the Compensation Committee. The company will also reimburse him for moving and related relocation expenses.

If Mr. DiSanto is terminated without cause or resigns for good reason (as defined in his agreement), he is entitled to receive 18 months of his current salary paid bi-weekly, a prorated target cash bonus for the year of termination, and continued health benefits for 18 months. These benefits are contingent upon him signing a separation and release agreement.

Mr. DiSanto is expected to commence his new role with American Tower Corporation effective April 1, 2007.