Atlanta, Georgia – (The Hosting News) – March 15, 2006 – According to a proxy filing with the Securities and Exchange
Commission, Atlanta-based hosting provider, Interland Inc.’s President and CEO Jeffrey M. Stibel elected to take no salary last
Mr. Stibel did, however receive a performance bonus of $37,500 and an inducement grant of $1.7 million in securities underlying options in 2005.
Interland plans to change its name to Web.com Inc. on March 20. Toward the end of 2005, the company completed a round of job cuts, trimming its employee base by nearly 38 percent, or 171 jobs. The company also switched to preparing its financial reports on a calendar year basis. For the quarter ended Nov. 30, it had a net loss of $2.6 million on $12.1 million in revenue.
The proxy filing also revealed that former President and CEO Allen L. Shulman, who left the company in October, earned a salary of $323,500 and received no bonus in 2005. In 2004, he had a salary of $256,401 and no bonus.
Chief Financial Officer Gonzalo Troncoso earned a salary of $229,423 and had a bonus of $37,800 last year, compared with a salary of $142,788 and a bonus of $18,000 in 2004. Chief Operating Officer Richard A. Pitrolo got a salary of $237,500 and bonus of 42,000 in 2005. This compares with a salary of $142,788 and a $47,272 bonus in 2004.
To learn more about Interland, please visit: www.interland.com.