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.