TechTarget Announces CEO's Sale of Shares for Expiring Options
Needham, MA – September 11, 2009 – TechTarget, Inc. (NASDAQ: TTGT) today announced financial results for the first quarter ended March 31, 2009 and the second quarter ended June 30, 2009. 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.
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.
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