SiliconBeat

ArcSight, the lone Silicon Valley company to hold an initial public offering last year, said that Chairman and former chief executive Robert Shaw resigned Monday due to a “serious health condition” that was not further described. Read the rest of this entry »

We blogged about the ArcSight IPO yesterday. But footnoted.org picked up some good nuggets we missed from the earlier S-1 about the perks granted to ArcSight CEO and Chairman Robert Shaw:

Michelle Leder of footnoted.org writes:

“…it’s the yacht club that really stands out. A quick scan of registration statements for the past year shows that Shaw is in a club of one: no other CEO of a newly public company is getting their employer to pick up their yacht club membership. A further search of proxy statements for all companies from the past year goes even further: no other company has disclosed paying for a yacht club for their CEO or any other top executive.”

Read her full post here…

Among the investors in ArcSight, the Cupertino company that held Silicon Valley’s first initial public offering of 2008, is In-Q-Tel, the strategic venture firm funded by the Central Intelligence Agency. It was also among the stockholders selling 13 percent of the shares
offered to the public on Valentine’s Day, according to the company’s SEC filing.

In-Q-Tel owned 1.2 million shares prior to the offering, in which it sold 215,330 shares at the $9 offering price, raising $1.9 million in the process. While we can’t precisely figure what the CIA-backed fund paid for its stake in the maker of “mission-control center” systems to monitor networks for nefarious activity, the average price paid by investors during three rounds prior to the IPO was about $2.05. Under those terms and including the underwriting charge, the CIA fund would have netted about $1.4 million. It still owns a million shares, or 3.3 percent of ArcSight.