SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Gordon Michael M

(Last)

(First)

(Middle)

C/O LIMELIGHT NETWORKS, INC.

2220 W. 14TH STREET

(Street)

TEMPE

85821

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Limelight Networks, Inc. [ LLNW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Co-Founder/Chief Strategy Off.

3. Date of Earliest Transaction (Month/Day/Year)
06/07/2007

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock								834,775	D⁽¹⁾
Common Stock								937,500⁽²⁾	D
Common Stock								63,750	I⁽³⁾	By Thunder Road Capital LLC
Common Stock								95,625	I⁽⁴⁾	By Buttercup Irrevocable Trust
Common Stock								95,625	I⁽⁵⁾	By Dandelion Irrevocable Trust
Common Stock								95,625	I⁽⁶⁾	By Sunshine Irrevocable Trust
Common Stock								95,625	I⁽⁷⁾	By Tiger Irrevocable Trust
Common Stock								95,625	I⁽⁸⁾	By Tigerlily Irrevocable Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Nonqualified Stock Option (Right to Buy)	$15	06/07/2007		A		200,000		⁽⁹⁾	06/07/2017	Common Stock	200,000	$0	$200,000	D

Explanation of Responses:

1. Held by Michael and Lauren Gordon.

2. All shares vest 1/12th on the one month anniversary of the vesting commencement date of 07/12/2006 and 1/12th monthly thereafter.

3. Mr. Gordon is a managing member of Thunder Road Capital LLC and disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein.

4. Mr. Gordon is a trustee of Buttercup Irrevocable Trust and disclaims beneficial ownership of these securities.

5. Mr. Gordon is a trustee of Dandelion Irrevocable Trust and disclaims beneficial ownership of these securities.

6. Mr. Gordon is a trustee of Sunshine Irrevocable Trust and disclaims beneficial ownership of these securities.

7. Mr. Gordon is a trustee of Tiger Irrevocable Trust and disclaims beneficial ownership of these securities.

8. Mr. Gordon is a trustee of Tigerlily Irrevocable Trust and disclaims beneficial ownership of these securities.

9. All shares vest 1/4th on the one year anniversary of the vesting commencement date of 06/07/2007 and 1/48th monthly thereafter.

	/s/ Rita Tocco, Attorney-in-Fact for Michael M. Gordon	06/08/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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