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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report: November 16, 1998
NETWORK SOLUTIONS, INC.
(Exact name of registrant as specified in its charter)
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<CAPTION>
Delaware 0-22967 52-1146119
<S> <C> <C>
(State or other jurisdiction (Commission File (I.R.S. Employer
of incorporation) Number) Identification Number)
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505 Huntmar Park Drive, Herndon, Virginia 20170
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (703) 742-0400
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ITEM 5. OTHER EVENTS.
On November 16, 1998, Network Solutions, Inc., a Delaware corporation
(the "Company"), announced the resignation of Gabriel A. Battista from his
positions as Chief Executive Officer and Director of the Company. While the
Company conducts a search for a new Chief Executive Officer, Michael A. Daniels,
Chairman of the Board, will assume the executive responsibilities previously
performed by Mr. Battista. In addition, Robert J. Korzeniewski, Chief Financial
Officer, will also be acting as the Company's Chief Operating Officer, assuming
responsibility for day-to-day operations.
A copy of the Company's press release, dated November 16, 1998,
announcing Mr. Battista's resignation is attached hereto as Exhibit 99.1 and
incorporated by reference herein.
This report and the Company's press release attached hereto contain
forward-looking statements that involve risks and uncertainties that could cause
actual results to differ materially from those stated or implied by such
forward-looking statements. The potential risks and uncertainties include, among
others, uncertainty of Internet governance and regulation, increased competition
in the domain name registration business, customer acceptance of new products
and services offered by the Company in addition to or as enhancements of its
registration services and the Company's ability to attract and retain qualified
personnel. More information about potential factors that could affect the
Company's business and financial results is included in the Company's annual
report on Form 10-K for the year ended December 31, 1997, and the Company's
quarterly reports on Form 10-Q for the periods ended March 31, 1998, June 30,
1998 and September 30, 1998, which are on file with the Securities and Exchange
Commission (http://www.sec.gov).
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(c) Exhibits.
Exhibit Description
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99.1 Text of Press Release dated November 16, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NETWORK SOLUTIONS, INC.
Date: November __, 1998 By: /s/
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Robert J. Korzeniewski
Chief Financial Officer, Acting Chief
Operating Officer and Authorized
Signatory
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NETWORK SOLUTIONS, INC.
INDEX TO EXHIBITS
Exhibit Description
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99.1 Text of Press Release dated November 16, 1998.
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NETWORK SOLUTIONS ANNOUNCES RESIGNATION OF
CHIEF EXECUTIVE OFFICER GABRIEL A. BATTISTA
HERNDON, VA., NOVEMBER 16, 1998 - Michael A. Daniels, Chairman of the Board of
Network Solutions, Inc. (NASDAQ:NSOL), the leading registrar of Internet
addresses, today announced the resignation of Network Solutions' Chief
Executive Officer, Gabriel A. Battista. Battista said that he was leaving for
a combination "of new challenges and a once in a lifetime opportunity." He
added, however, that "he was leaving with a great sense of accomplishment and
that he was leaving behind a vibrant business, with a strong financial position
and a strong management team."
Daniels praised Battista for his efforts in building the management
infrastructure necessary to accommodate the company's exponential growth over
the past two years and expressed confidence in the management team's ability to
successfully move into greater competition in domain registration services.
While the company conducts a search for Battista's replacement, Daniels said
that he will be assuming the executive responsibilities performed by Battista
and that Robert J. Korzeniewski, Network Solutions' Chief Financial Officer,
will also be acting as the company's Chief Operating Officer and assuming
day-to-day responsibilities.
About Network Solutions
Founded in 1979, Network Solutions, Inc. (NASDAQ:NSOL) is a leader in
the Internet and pioneered the development of registering Web addresses ending
in .com, .net, .org and .edu. Network Solutions also provides enterprise
network consulting services, focusing on network engineering, network security
and network management solutions for commercial customers. For more
information, see the www.networksolutions.com Web site.
For Network Solutions, Media: Christopher Clough, [email protected],
703/742-4706. Investor Relations: Bob Korzeniewski, [email protected],
703/742-4741.
This announcement contains forward looking statements that involve
risks and uncertainties that could cause actual results to differ materially
from those stated or implied by such forward-looking statements. The potential
risks and uncertainties include, among others, uncertainty of Internet
governance and regulation, increased competition in the domain name
registration business, customer acceptance of new products and services offered
by the company in addition to or as enhancements of its registration services
and the company's ability to attract and retain qualified personnel. More
information about potential factors that could affect the company's business
and financial results is included in the company's filings with the Securities
and Exchange Commission, especially in the company's Annual Report on Form 10-K
for the year ended December 31, 1997 and Quarterly Reports on Form 10-Q for the
periods ended March 31, 1998, June 30, 1998 and September 30, 1998.
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