TiVo
announced that Peter Aquino -- the former president and CEO RCN, who struck a
strategic deal to use TiVo boxes as the operator’s primary DVR platform -- was
named to its board effective Sept 22.
Aquino,
49, headed RCN from December 2004 until August 2010, departing after the
company was taken private by private equity firm ABRY Partners.
He will receive stock grants worth about $300,000 based on TiVo’s current share
price, comprising 25,000 stock options that vest over the course of four years
and 8,300 shares of restricted stock to vest 25% annually on the grant
anniversary over four years.
With
his addition, TiVo's board will increase to eight members, including seven
independent, outside directors.
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